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BRIEF-Madalena reports completion of strategic alternatives process
May 8, 2017 / 1:01 PM / 7 months ago

BRIEF-Madalena reports completion of strategic alternatives process

May 8 (Reuters) - Madalena Energy Inc:

* 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: Further company coverage:

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