Key Developments: Madalena Ventures Inc (MDLNF.PK)
0.43USD
17 May 2013
$0.05 (+13.19%)
$0.38
$0.39
$0.43
$0.39
1,682,500
95,750
$0.55
$0.20
Latest Key Developments (Source: Significant Developments)
Madalena Ventures Inc Announces Appointment Of New VP Finance & CFO
Madalena Ventures Inc announced that Mr. Thomas Love has been appointed Vice President, Finance and Chief Financial Officer of the Company, effective February 28, 2013. Full Article
Madalena Ventures Inc Announces Resignation Of Anthony Potter As Chief Financial Officer
Madalena Ventures Inc announced that Mr. Anthony Potter has resigned from his positions of Vice-President, Chief Financial Officer effective February 28, 2013 and as Director of Madalena and subsidiaries effective immediately. Mr. Thomas Love, C.A., the former CFO and Director of Online Energy Inc. (Online) has been providing consulting services since the acquisition of Online, and go-forward, will continue to be available to assist the Company during and after the transition period. Full Article
Madalena Ventures Inc Announces Management Changes
Madalena Ventures Inc announced that Mr. Kevin Shaw, P.Eng, MBA has been appointed President and Chief Executive Officer of the Company, effective immediately. Mr. Shaw will also be joining the Company's Board of Directors. Mr. Warkentin will move to the position of Vice-Chairman of the Company's Board of Directors and Vice-President, International, where his international expertise will continue to be invaluable. Full Article
Madalena Ventures Inc Enters Agreement For Acquisition Of Online Energy Inc
Madalena Ventures Inc and Online Energy Inc jointly announced that they have entered into a pre-acquisition agreement pursuant to which Madalena will make an offer to acquire all of the issued and outstanding common shares of Online by way of a take-over bid. Under the terms of the Pre-Acquisition Agreement, Madalena will pay $0.35 cash per Online Share for a total purchase price of $20.3 million, which includes the assumption of Online's debt in the amount of approximately $4.0 million excluding transaction costs and severance. Based on the 20 day volume weighted average trading price of the Online Shares on the TSXV ending August 31, 2012, Online's shareholders will receive a 52% premium for each Online Share held. Madalena intends to fund the purchase price from its current working capital. Full Article
Madalena Ventures Inc. Announces Increase To Financing
Madalena Ventures Inc. announced that it has increased its previously announced bought deal financing with a syndicate of underwriters led by Casimir Capital Ltd. pursuant to which the Underwriters will now acquire, on a bought deal basis, 48,000,000 common shares at a price of $1.25 per common share to raise gross proceeds of $60,000,000. Madalena has also granted the Underwriters an over-allotment option to purchase, on the same terms, up to an additional 6,000,000 common shares. The Over-Allotment Option is exercisable in whole or in part by the Underwriters at any time up to 30 days after closing. If the Over-Allotment Option is exercised in full, the maximum gross proceeds raised would be $67,500,000. The net proceeds of the Offering will be used to fund the Company's capital expenditure program and for other general corporate purposes. The Common Shares will be offered in certain provinces of Canada by way of a short form prospectus and on a private placement basis elsewhere where permitted pursuant to applicable exemptions from the prospectus and registration requirements. The closing of the Offering is expected to occur on or about March 7, 2012, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Full Article
Madalena Ventures Inc. Announces $50 Million Bought Deal Equity Financing
Madalena Ventures Inc. announced that it has entered into an agreement with a syndicate of underwriters led by Casimir Capital Ltd. pursuant to which the Underwriters have agreed to acquire, on a bought deal basis, 40,000,000 common shares at a price of $1.25 per common share to raise gross proceeds of $50,000,000. Madalena has also granted the Underwriters an over-allotment option to purchase, on the same terms, up to an additional 6,000,000 common shares. The Over-Allotment Option is exercisable in whole or in part by the Underwriters at any time up to 30 days after closing. If the Over-Allotment Option is exercised in full, the maximum gross proceeds raised would be $57,500,000. The net proceeds of the Offering will be used to fund the Company's capital expenditure program and for other general corporate purposes. The closing of the Offering is expected to occur on or about March 7, 2012, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
