MNP Petroleum Corp. (MNAP)

[AMOTE1]

On October 29, 2015 the Company entered into an Investment Agreement with Seven and Seven IST Petro Kimya (“Seven & Seven”) providing for a staged private placement of equity and convertible debt for gross proceeds of up to EUR 250 million (approx. US$ 266 million). Both parties are working on closing the transaction.

Seven & Seven and its subsidiaries have investments and had investments in energy and oil and gas operations in Kazakhstan and the Middle East as well as other investments in various industry sectors. Seven & Seven is incorporated under the laws of Turkey and is headquartered in Istanbul.


So, 250 million in stages from a Turkish company, Seven and Seven. How much Seven and Seven get is unclear. Seven and Seven has a presence on the web but it is in Turkish. so we'll see.