Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/madalena-closes-financings-for-gross-proceeds-of-7.shtmlMadalena closes financings for gross proceeds of $7.25 million
Madalena Ventures Inc. has closed its previously announced private placement financings for aggregate gross proceeds of approximately
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Madalena Ventures Inc. has closed its previously announced private placement financings for aggregate gross proceeds of approximately $7.25 million through the issuance of:
(a) 11,765,000 common shares issued as CEE "flow-through shares" within the meaning of the Income Tax Act (Canada) at a price of $0.34 per share for gross proceeds of $4.00 million (the "Brokered Private Placement") by way of "bought deal" private placement, pursuant to an underwriting agreement between Dundee Securities Ltd.; and
(b) (i) 200,000 common shares at a price of $0.31 per share; (ii) 4,780,000 common shares issued as CDE "flow-through shares" within the meaning of the Income Tax Act (Canada) at a price of $0.32 per share; and (iii) 4,886,765 common shares issued as CEE "flow-through shares" within the meaning of the Income Tax Act (Canada) at a price of $0.34 per share (collectively, the "Non-Brokered Private Placement") for gross proceeds of $3.25 million. and together with the Brokered Private Placement, the "Private Placement").
