January 13, 2017 17:10 ET
CALGARY, ALBERTA--(Marketwired - Jan. 13, 2017) -
NOT FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
Pursuant to the early warning requirements of applicable Canadian securities laws and in connection with Madalena Energy Inc.'s ("Madalena") ownership of common shares ("Common Shares") in the capital of Point Loma Resources Ltd. (the "Company" or "Point Loma"), Madalena reports that, on January 11 and 12, 2017, it sold 624,000 Common Shares through the facilities of the TSX Venture Exchange for total gross proceeds of approximately $258,000.
As a result of the above-referenced transactions, Madalena has disposed of 624,000 of the 6,244,814 Common Shares it formerly held in Point Loma. Madalena now owns and has direction and control over 5,620,814 Common Shares (21%) of Point Loma's currently issued and outstanding Common Shares. Madalena may, depending on market and other conditions, increase or decrease its ownership of Common Shares of the Company, whether in the open market, by privately negotiated agreement or otherwise going forward.
For further details regarding the disposition of the Common Shares described above, see the Early Warning Report dated January 13, 2017 available on the Company's SEDAR profile.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS NEWS RELEASE, PLEASE CONTACT:
For further information or to obtain a copy of theearly warning report:Madalena Energy Inc.200, 707 - 7 Avenue S.W.Calgary, Alberta, Canada, T2P 3H6403-262-1901The Company's head office is located at:Point Loma Resources Ltd.500, 633 - 6 Avenue S.W.Calgary, Alberta, CanadaT2P 2Y5
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