Business
Madalena announces closing of bought deal Offering, including full exercise of over-allotment option, for gross proceeds of $23.0 million
/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\n\n\nCALGARY, Feb. 11, 2014 /CNW/ - Madalena Energy Inc. (\"Madalena\" or the \"Company\") (TSXV:MVN and OTC:MDLNF), is pleased to announce that it has closed its previously announced\n bought deal short form prospectus offering (the \"Offering\") through\n Haywood Securities Inc. (\"Haywood\"), Mackie Research Capital\n Corporation and RBC Capital Markets (\"RBC\") (collectively the \"Co-Lead\n Underwriters\"), on their own behalf and on behalf of Beacon Securities\n Limited and National Bank Financial Inc., (collectively with the\n Co-Lead Underwriters, the \"Underwriters\").  Pursuant to the Offering,\n Madalena issued 32,857,225 common shares of the Company (the \"Common\n Shares\") at $0.70 per Common Share, including 4,285,725 Common Shares\n issued pursuant to the exercise of the over-allotment option in full by\n the Underwriters, for aggregate gross proceeds of $23,000,058. Haywood\n and RBC acted as joint book-runners in connection with the Offering.\n\n\nThe net proceeds of the Offering will be used to fund further\n development of Madalena's capital expenditure program in Argentina and\n Canada and for general corporate and working capital purposes.\n\n\nAbout Madalena - International and Domestic Assets\n\n\nMadalena is an independent, Canadian-based, domestic and international\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 blocks within the Neuquén basin in\n Argentina comprised of approximately 132,200 net acres on the Coiron\n Amargo (approximately 35,000 net acres), Curamhuele (approximately\n 50,500 net acres) and Cortadera (approximately 46,700 net acres)\n blocks.\n\n\nDomestically, Madalena's core area of operations is located in the\n Greater Paddle River area of west-central Alberta, where the Company\n holds approximately 200 gross (155 net) sections of land (78% average\n working interest).\n\n\nMadalena trades on the TSX Venture Exchange under the symbol MVN. Basic\n corporate information, recent news releases and regularly updated\n corporate presentations are available on the Company's website at www.madalenaenerg...