TORONTO, May 9 /CNW/ - Libra Advisors, LLC ("Libra") announced today
that Libra Fund II (Luxembourg) S.à r.l. (the "Fund") has acquired a
total of 14,000,000 units at a price of US$0.50 per unit of Manas Petroleum Corporation ("Manas") pursuant to a public
offering (the "Offering") of Manas.
Each unit is comprised of one common share and one common share purchase warrant (the "Warrant") in
the capital of Manas.
Each whole Warrant is exercisable into one common share at a price of
US$0.70 for a period of 36 months from the closing date.
As a result of this acquisition, the Fund now owns 14,000,000 common
shares, representing approximately 8.2% of the total outstanding common
shares of Manas and 14,000,000 Warrants of Manas that, if exercised,
together represent approximately 15.2% of the total outstanding common
shares of Manas.
The Fund acquired the units for investment purposes and may, from time
to time, acquire additional securities of Manas or dispose of such
securities as it may deem appropriate.
Libra is the investment advisor to the Fund and maintains its principal
office at 777 Third Avenue, 27th Floor, New York, New York 10017.
SOURCE Libra Advisors, LLC
For further information:
Mr. Ranjan Tandon, Managing Member, at (212) 350-5125