Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

BRIEF-Madalena reports completion of strategic alternatives process

Published 2017-05-08, 08:58 a/m
© Reuters.  BRIEF-Madalena reports completion of strategic alternatives process

May 8 (Reuters) - Madalena Energy Inc MVN.V :

* Madalena announces successful completion of its strategic alternatives process

* Madalena Energy Inc - Madalena entered into a series of agreements with Hispania Petroleum S.A.

* Madalena Energy Inc - agreements provide for a package of debt and mezzanine financing which are expected to resolve Madalena's liquidity challenges

* Madalena Energy- Jose David Penafiel, Hispania's CEO, has been appointed CEO of Madalena

* Madalena Energy - entered into two credit facilities with hispania, with a total of $23 million of availability

* Madalena Energy- company is reducing its canadian presence as it transfers executive management functions to argentina

* Madalena Energy - Steve Dabner, vp exploration and new ventures and Thomas Love, vp finance and chief financial officer will depart company Source text for Eikon: ID:nCNWJYbbha Further company coverage: MVN.V

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.