Non-brokered offering will sell 6 million flow-through common shares
By Devika Patel
Knoxville, Tenn., Nov. 14 - Madalena Energy Inc. said it will conduct a C$3.24 million non-brokered private placement of stock.
The company will sell 6 million flow-through common shares at C$0.54 apiece. The price per share is a 5.88% premium to C$0.51, the Nov. 13 closing share price.
The company also plans an C$8 million public offering of 17,022,000 common shares to be sold at C$0.47 per share. The public sale will be conducted by co-lead underwriters and joint bookrunners Mackie Research Capital Corp. and RBC Capital Markets and will have a 15% greenshoe.
The oil and gas company is based in Calgary, Alta.
| Issuer: | Madalena Energy Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3.24 million
|
| Shares: | 6 million
|
| Price: | C$0.54
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 14
|
| Stock symbol: | TSX Venture: MVN
|
| Stock price: | C$0.51 at close Nov. 13
|
| Market capitalization: | C$155.8 million
|
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