Madalena Announces the Issuance of Warrants to Hispania Petroleum S.A.
July 10 2017 - 3:07PM
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 January 8, 2019 at an
exercise price of $0.165. 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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