Manas Resources Ltd. (ASX:MSR) announced a private placement on best effort basis of 51,000,000 common shares at AUD 0.10 for gross proceeds of AUD 5,100,000 on April 2, 2013. The company will complete the transaction in two tranches. The company will issue 34,000,000 shares for gross proceeds of AUD 3,400,000 in first tranche and 17,000,000 shares for gross proceeds of AUD 1,700,000 in second tranche. The first tranche is expected to close in one week and second tranche is expected to close in late May 2013. Blackwood Capital Limited will act as placement agent to the company.

On April 15, 2013, the company closed its first tranche. The company issued 32,629,998 shares for gross proceeds of AUD 3,262,999.80 in its first tranche. The completion of the balance of the transaction will take place soon after the company's annual general meeting on May 27, 2013.

On May 27, 2013, the company announced that the transaction has been approved at the annual general meeting of the shareholders. The company received approval to issue up to 19,500,000 shares out of which 17,000,000 are to be issued pursuant to the second tranche of the transaction.