Business
Madalena announces closing of bought deal offering, including full exercise of over-allotment option, for gross proceeds of $9.2 million
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./ T...
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, Dec. 5, 2013 /CNW/ - Madalena Energy Inc. (\"Madalena\" or the\n \"Company\") is pleased to announce that it has completed its previously\n announced bought deal short form prospectus offering (the \"Offering\")\n through Mackie Research Capital Corporation and RBC Capital Markets, as\n co-lead underwriters and joint book-runners (the \"Co-Lead\n Underwriters\"), on their behalf and on behalf of Haywood Securities\n Inc., National Bank Financial Inc., Dundee Securities Ltd., Beacon\n Securities Limited and Cormark Securities Inc. (collectively with the\n Co-Lead Underwriters, the \"Underwriters\").  Pursuant to the Offering,\n Madalena issued an aggregate of 19,575,300 common shares of the Company\n (\"Common Shares\") at an issue price of $0.47 per Common Share,\n including 2,553,300 Common Shares issued pursuant to the exercise of\n the over-allotment option in full by the Underwriters, for aggregate\n gross proceeds of $9.2 million.\n\n\nOn November 21, 2013, Madalena closed a private placement offering of\n CDE \"flow through shares\" for gross proceeds of $3.0 million, which\n combined with the Offering provides Madalena with aggregate combined\n gross proceeds of $12.2 million.\n\n\nThe net proceeds from the Offering will be used by the Company for\n further development of the Company's Ostracod oil assets in the Paddle\n River area of West-Central Alberta and for general corporate and\n 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 135,000 net acres on the Coiron\n Amargo (approximately 35,000 net acres), Curamhuele (approximately\n 50,500 net acres) and Cortadera (approximately 49,500 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) secti...