Brief: Madalena signs LOI to acquire 10 pct working interest one of its partners in Argentina

Centaurus Energy

01/03/2016 19:49

March 1 (Reuters) - Madalena Energy Inc  MVN.V : 
 * Announces strategic Coiron Amargo acquisition and CDN$27 million equity 
   financing to advance its unconventional shale and scalable resource plays in 
   Argentina 
 * Deal for $8 million 
 * Filed preliminary short form prospectus in connection with public offering of 
   common shares for gross proceeds of up to C$27 million 
 * Says net proceeds of the offering will be used to fund the purchase price and 
   supplement the company's drilling program in Argentina 
 * Letter of intent to acquire 10% working interest of one of its partners in 
Coiron Amargo block in Neuquen province, Argentina 
 
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