Madalena Announces Closing in Full of Over-Allotment Option

 /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE  U.S./  TSXV Trading Symbol: MVN OTC Trading Symbol: MDLNF  CALGARY, July 7, 2014 /CNW/ - Madalena Energy Inc. ("Madalena" or the  "Company") (TSXV: MVN and OTC: MDLNF) is pleased to announce that it has  closed the over-allotment option (the "Over-Allotment Option") in full for its  previously announced bought deal, short form prospectus offering (the  "Offering").  Pursuant to the Over-Allotment Option, Madalena issued  14,715,000 common shares of the Company ("Common Shares") at a price of $0.51  per Common Share for gross proceeds of $7,504,650.  The total gross proceeds  under the Offering were $57,535,650.  The syndicate of underwriters for the Offering was led by Dundee Securities  Ltd. and included RBC Capital Markets, Haywood Securities Inc., Beacon  Securities Limited, National Bank Financial Inc., FirstEnergy Capital Corp.,  Mackie Research Capital Corporation, TD Securities Inc., Canaccord Genuity  Corp., Jennings Capital Inc. and Raymond James Ltd.  As previously announced, the Company used the net proceeds from the Offering  to fund the remaining cash component for the acquisition of the Argentinean  business unit of Gran Tierra Energy Inc. and for general corporate and working  capital purposes.  About Madalena - International and Domestic Assets (Pre-Acquisition)  Madalena is an independent, Canadian-based, international and domestic  upstream oil and gas company whose main business activities include  exploration, development and production of crude oil, natural gas liquids and  natural gas.  Internationally, Madalena holds three large blocks within the Neuquén basin  in Argentina where it is focused on the delineation of large petroleum  in-place shale and unconventional resources in the Vaca Muerta and Lower Agrio  shales, in addition to multiple tight sand plays. The Company is also  implementing horizontal drilling and completions technology to high impact  international plays and is currently focused on a conventional oil play in the  Sierras Blancas formation. Madalena holds approximately 132,200 net acres on  the Coiron Amargo (34,950 net acres), Curamhuele (50,600 net acres) and  Cortadera (46,650 net acres) blocks.  Domestically, Madalena's core area of operations is located in the Greater  Paddle River area of west-central Alberta where the Company holds  approximately 195 gross (153 net) sections of land (approximately 78% average  W.I.) encompassing light oil and liquids-rich gas resource plays. Madalena's  primary domestic focus is to exploit its large inventory of horizontal  drilling locations on its Ostracod oil and emerging oil & liquids-rich gas  resource plays.  Madalena trades on the TSX Venture Exchange under the symbol MVN. Basic  corporate information, recent news releases and regularly updated corporate  presentations are available on the Company's website at  Reader Advisories  Forward Looking Information  The information in this news release contains certain forward-looking  statements. These statements relate to future events or our future  performance, in particular, but not limited to the Company's use of proceeds  from the Offering. Statements relating to "reserves" are also deemed to be  forward looking statements, as they involve the implied assessment, based on  certain estimates and assumptions, that the reserves described exist in the  quantities predicted or estimated and that the reserves can be profitably  produced in the future. All statements other than statements of historical  fact may be forward-looking statements. Forward-looking statements are often,  but not always, identified by the use of words such as "seek", "anticipate",  "plan", "continue", "estimate", "approximate", "expect", "may", "will",  "project", "predict", "potential", "targeting", "intend", "could", "might",  "should", "believe", "would" and similar expressions. In particular, this news  release contains forward-looking statements pertaining to operational  activities to be conducted by the Company. These statements involve  substantial known and unknown risks and uncertainties, certain of which are  beyond the Company's control, including: the impact of general economic  conditions; industry conditions; changes in laws and regulations including the  adoption of new environmental laws and regulations and changes in how they are  interpreted and enforced; fluctuations in commodity prices and foreign  exchange and interest rates; stock market volatility and market valuations;  volatility in market prices for oil and natural gas; liabilities inherent in  oil and natural gas operations; uncertainties associated with estimating oil  and natural gas reserves; competition for, among other things, capital,  acquisitions, of reserves, undeveloped lands and skilled personnel; incorrect  assessments of the value of acquisitions; changes in income tax laws or  changes in tax laws and incentive programs relating to the oil and gas  industry; geological, technical, drilling and processing problems and other  difficulties in producing petroleum reserves; and obtaining required approvals  of regulatory authorities. The Company's actual results, performance or  achievement could differ materially from those expressed in, or implied by,  such forward-looking statements and, accordingly, no assurances can be given  that any of the events anticipated by the forward-looking statements will  transpire or occur or, if any of them do, what benefits the Company will  derive from them. These statements are subject to certain risks and  uncertainties and may be based on assumptions that could cause actual results  to differ materially from those anticipated or implied in the forward-looking  statements. The forward-looking statements in this news release are expressly  qualified in their entirety by this cautionary statement. Except as required  by law, the Company undertakes no obligation to publicly update or revise any  forward-looking statements. Investors are encouraged to review and consider  the additional risk factors set forth in the Company's Annual Information  Form, which is available on SEDAR at  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.  THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT  OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES  ABSENT REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS. THIS  PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN  OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN  WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.    SOURCE  Madalena Energy Inc.  Kevin Shaw, P.Eng, MBA President and Chief Executive Officer Madalena  Energy Inc. Phone: (403) 262-1901 (Ext. 230)  Thomas Love, CA VP, Finance and Chief Financial Officer, Madalena Energy Inc.  Phone: (403) 262-1901 (Ext. 227)  To view this news release in HTML formatting, please use the following URL:  CO: Madalena Energy Inc. ST: Alberta NI: OIL  
Press spacebar to pause and continue. Press esc to stop.