By Laura Lutz
Des Moines, Nov. 2 - Madalena Ventures Inc. closed a private placement of units for C$20,049,200.
The company sold 25,061,500 units of one share and one half-share warrant at C$0.80 per unit. Each whole warrant is exercisable at C$0.90 for one year.
Canaccord Capital Corp., the placement agent, has an over-allotment option for an additional 2.75 million units, exercisable until Dec. 2.
Proceeds will be used for the company's international oil and gas acquisition, exploration and development.
Madalena is a Calgary, Alta.-based oil and gas company.
| Issuer: | Madalena Ventures Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$20,049,200
|
| Units: | 25,061,500
|
| Greenshoe: | For 2.75 million units
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.90
|
| Agent: | Canaccord Capital Corp.
|
| Settlement date: | Nov. 2
|
| Stock symbol: | CNQ: MAVI
|
| Stock price: | C$0.80 at close Nov. 2
|
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