By Sheri Kasprzak
New York, Feb. 10 - Madalena Ventures Inc. said it has arranged a private placement for up to C$6 million.
The offering includes up to 12 million shares at C$0.50 each.
Canaccord Capital Corp. is the placement agent.
Proceeds will be used for exploration on the company's oil and natural gas projects and for working capital.
Based in Vancouver, B.C., Madalena is an oil and natural gas exploration and development company.
| Issuer: | Madalena Ventures Inc.
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| Issue: | Stock
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| Amount: | C$6 million (maximum)
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| Shares: | 12 million (maximum)
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| Price: | C$0.50
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| Warrants: | No
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| Placement agent: | Canaccord Capital Corp.
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| Pricing date: | Feb. 10
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| Stock symbol: | CNQ: MAVI
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| Stock price: | C$0.56 at close Feb. 10
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