Madalena holder Maglan now controls 12.74% of shares
2015-03-05 10:21 MT - News Release
An anonymous director of Maglan reports
MAGLAN CAPITAL DISCLOSES ITS POSITION IN MADALENA ENERGY INC.
On Jan. 30, 2015, Maglan Capital LP, on behalf of Maglan Distressed Master Fund LP and certain managed accounts for which it has discretionary trading authority, acquired beneficial ownership of 4,092,500 common shares of Madalena Energy Inc., representing approximately 0.8 per cent of the then issued and outstanding common shares, on a partially diluted basis, of Madalena. After giving effect to the acquisition of the acquired shares, Maglan Capital controlled and directed 57.9 million common shares of Madalena, representing approximately 10.73 per cent of the then issued and outstanding common shares, on a partially diluted basis, of Madalena.
During the period of February 11, 2015 to March 4, 2015, Maglan Capital on behalf of Maglan Fund and certain managed accounts for which it has discretionary trading authority acquired beneficial ownership of an additional 10,866,900 common shares ("Additional Acquired Shares") of Madalena, representing approximately 2.01% of the issued and outstanding common shares, on a partially diluted basis, of Madalena. After giving effect to the acquisition of the Additional Acquired Shares, Maglan Capital controls and directs 68,766,900 common shares of Madalena, representing approximately 12.74% of the issued and outstanding common shares, on a partially diluted basis, of Madalena.
The acquisition of the Additional Acquired Shares occurred through the facilities of the TSX-V at a price per Additional Acquired Share of between Cdn$0.275 and Cdn$0.41. The Additional Acquired Shares were acquired for investment purposes. Maglan may dispose of its holdings or acquire ownership of, or control or direction over, additional securities of Madalena, depending on market conditions and in compliance with applicable law.
The issuance of this news release is not an admission that an entity named in this news release owns or controls any described securities or is a joint actor with another named entity.
Maglan Capital is located at 25 West 39th Street, New York, NY 10018, USA.
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