Madalena Announces the Issuance of Warrants to Hispania Petroleum S.A.
August 09 2017 - 06:31PM
Madalena Energy Inc. ("Madalena" or the "Company") (TSXV:MVN)
(OTCQX:MDLNF) announces that, in connection with the previously
announced services agreement ("Services Agreement") that 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 February 8, 2019 at an exercise price
of $0.18. 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 EnergyMadalena
is an independent, Canadian 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.
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For further information please contact:
Jose Penafiel
Chief Executive Officer
email: jpenafiel@madalenaenergy.com
phone: (403) 262-1901
Alejandro A. Penafiel
Director
email: apenafiel@madalenaenergy.com
phone: (403) 262-1901
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