Madalena Ventures Inc. and Online Energy Inc. Announce Successful Completion of Takeover Bid for the Common Shares of Online Energy Inc.

About this update from Centaurus Energy Inc.

[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR\n DISSEMINATION IN THE UNITED STATES/ \n\n\nMADALENA VENTURES INC.200, 441 - 5th Avenue S.W. Calgary, Alberta T2P 2V1Telephone:  (403) 233-8010 Facsimile (403) 233-8013TSXV Trading Symbol: MVNONLINE ENERGY INC.200, 707 - 7th Avenue S.W. Calgary, Alberta T2P 3H6Telephone:  (403) 262-1901 Facsimile (403) 262-1905TSXV Trading Symbol: ONL\n\n\nCALGARY, Nov. 1, 2012 /CNW/ - Madalena Ventures Inc. (\"Madalena\") (TSXV: MVN), an international upstream oil and gas company and Online\n Energy Inc. (\"Online\") (TSX-V: ONL), a domestic oil and gas company with operations in\n Alberta, are pleased to jointly announce that 42,992,196 common shares\n (\"Online Shares\") of Online, representing approximately 93.5% of the issued and\n outstanding Online Shares, have been tendered pursuant to Madalena's\n offer to purchase (the \"Offer\") all of the issued and outstanding Online Shares.  Madalena has\n directed the depositary, Alliance Trust Company (the \"Depositary\"), to take up and pay for the Online Shares deposited under the Offer\n and not withdrawn as at 10:00 a.m. (Calgary time) on November 1, 2012.\n Under the Offer, holders of Online Shares are entitled to receive $0.35\n in cash for each Online Share tendered to the Offer.\n\n\nAs the Offer was accepted by holders of greater than 90% of the\n outstanding Online Shares, Madalena will take steps to acquire the\n remainder of the Online Shares pursuant to the compulsory acquisition\n provisions contained in the Business Corporations Act (Alberta).  Online Shares have been halted from trading on the TSX\n Venture Exchange and will remain halted pending Online's application to\n delist the Online Shares from such exchange.\n\n\nNeither the TSX Venture Exchange nor its Regulation Service Provider (as\n that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release.\n\n\n \n\nSOURCE: Madalena Ventures Inc.\n\n\n Dwayne H. Warkentin   President and Chief Executive Officer  Madalena Ventures Inc.  Phone: (403) 233-8010 ext 229  Anthony J. Potter Vice President, Finance and Chief Financial Officer Madalena Ventures Inc. Phone: (403) 233-8010 ext 233\n","length":2817,"tagName":"div"}]

More updates from Centaurus Energy Inc.