Business
Madalena Announces Closing in Full of Over-Allotment Option
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./ ...
About this update from Centaurus Energy Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n THE U.S./ \n\n\nTSXV Trading Symbol: MVN\nOTC Trading Symbol: MDLNF\n\n\nCALGARY, July 7, 2014 /CNW/ - Madalena Energy Inc. (\"Madalena\" or the \"Company\") (TSXV: MVN and OTC: MDLNF) is pleased to announce that it has closed\n the over-allotment option (the \"Over-Allotment Option\") in full for its previously announced bought deal, short form\n prospectus offering (the \"Offering\").  Pursuant to the Over-Allotment Option, Madalena issued 14,715,000\n common shares of the Company (\"Common Shares\") at a price of $0.51 per Common Share for gross proceeds of\n $7,504,650.  The total gross proceeds under the Offering were\n $57,535,650.\n\n\nThe syndicate of underwriters for the Offering was led by Dundee\n Securities Ltd. and included RBC Capital Markets, Haywood Securities\n Inc., Beacon Securities Limited, National Bank Financial Inc.,\n FirstEnergy Capital Corp., Mackie Research Capital Corporation, TD\n Securities Inc., Canaccord Genuity Corp., Jennings Capital Inc. and\n Raymond James Ltd.\n\n\nAs previously announced, the Company used the net proceeds from the\n Offering to fund the remaining cash component for the acquisition of\n the Argentinean business unit of Gran Tierra Energy Inc. and for\n general corporate and working capital purposes.\n\n\nAbout Madalena - International and Domestic Assets (Pre-Acquisition)\n\n\nMadalena is an independent, Canadian-based, international and domestic\n upstream oil and gas company whose main business activities include\n exploration, development and production of crude oil, natural gas\n liquids and natural gas.\n\n\nInternationally, Madalena holds three large blocks within the Neuquén\n basin in Argentina where it is focused on the delineation of large\n petroleum in-place shale and unconventional resources in the Vaca\n Muerta and Lower Agrio shales, in addition to multiple tight sand\n plays. The Company is also implementing horizontal drilling and\n completions technology to high impact international plays and is\n currently focused on a conventional oil play in the Sierras Blancas\n formation. Madalena holds approximately 132,200 net acres on the Coiron\n Amargo (34,950 net acres), Curamhuele (50,600 net acres) and Cortadera\n (46,650 net acres) blocks.\n\n\nDomestically, Madalena...