(All dollar figures are expressed in
Canadian Dollars, unless otherwise noted)
CALGARY, June 13, 2017 /CNW/ - Madalena Energy
Inc. ("Madalena" or the "Company") (TSXV: MVN and OTCQX: MDLNF)
announces that, in connection with the previously announced
services agreement ("Services Agreement") the Company entered into
with Hispania Petroleum S.A. ("Hispania"), it issued an aggregate
of 4,758,333 common share purchase warrants ("Warrants") to
Hispania for services rendered pursuant to the Services Agreement.
Each Warrant entitles the holder thereof to acquire one common
share ("Common Share") in the capital of the Company at any time
prior to January 8, 2019 at an
exercise price of $0.145. The Common
Shares issuable on exercise of the Warrants will be issued to
Hispania as fully paid and non-assessable Common Shares of the
Company.
The Warrants issued in connection with the Services
Agreement and the Common Shares issued on exercise thereof are
subject to a four month plus one day hold period.
About Madalena Energy
Madalena is
an independent, Canadian Argentine focused upstream oil and gas
company with operations in four provinces of Argentina where it is primarily
focused on the delineation of unconventional oil and gas
resources. The Company is implementing horizontal
drilling and completions technology to develop both its
conventional and resource plays.
Madalena trades on the TSX Venture Exchange under the
symbol MVN and on the OTCQX under the symbol MDLNF.
SOURCE Madalena Energy Inc.