Business
Madalena Announces Closing of CDN$50 Million Bought Deal Offering
/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, June 24, 2014 /CNW/ - Madalena Energy Inc. (\"Madalena\" or the\n \"Company\") (TSXV: MVN and OTC: MDLNF) is pleased to announce that it\n has closed its previously announced bought deal, short form prospectus\n offering of 98,100,000 subscription receipts of the Company (\"Subscription Receipts\") at a price of $0.51 per Subscription Receipt for aggregate gross\n proceeds of $50,031,000 (the \"Offering\"). The 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. (the \"Underwriters\").\n\n\nAs previously announced, the Company will use the net proceeds from the\n Offering to fund the remaining cash component for the acquisition (the\n \"Acquisition\") of the Argentinean business unit of Gran Tierra Energy Inc.  The\n gross proceeds from the Offering will be held in escrow pending the\n satisfaction of all conditions to the completion of the Acquisition\n (other than funding).  The Acquisition is expected to close on or about\n June 25, 2014.\n\n\nPursuant to the Offering, the Underwriters have an option, exercisable\n at any time up to 30 days following closing of the Offering, in whole\n or in part, to purchase an additional 14,715,000 Subscription Receipts\n at a price of $0.51 per Subscription Receipt to cover over-allotments\n and for market stabilization 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 ...