Mr. Dougal Ferguson reports
STATESMAN CLOSES PRIVATE PLACEMENT
Statesman Resources Ltd. has closed a non-brokered private placement of 21.8 million units
at a price of 10 cents per unit to raise gross proceeds of $2.18-million. Each unit consists of one common
share and one-half warrant. Each whole warrant entitles the holder to acquire one additional common
share at a price of 15 cents per share for a period of two years expiring Oct. 2, 2014. All securities
issued under the placement are subject to restrictions on resale expiring Feb. 3, 2013. The
company paid cash finders' fees in the amount of $40,800 in connection with a portion of the funds
The proceeds of the placement will be applied to acquisition costs and work commitments on the
company's recently acquired Sudan oil and gas concession (see news releases dated June 22, 2012, and
July 11, 2012) and for working capital.
In addition, the company reports that Manaslu Energy Partners Ltd., a non-reporting company with a
registered address at Ogier Fiduciary Services (BVI) Ltd., Nemours Chambers, Road Town,
Tortola, British Virgin Islands, participated in the placement acquiring 5.8 million units representing
approximately 18.5 per cent of the company's issued and outstanding shares without giving effect to the
exercise of any warrants. The company is advised that the units were acquired for investment
We seek Safe Harbor.
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