/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TSXV Trading Symbol: MVN
CALGARY, Nov. 30, 2012 /CNW/ - The Board of Directors of Madalena
Ventures Inc. ("Madalena" or the "Corporation") announces as part of
its compensation process, the grant of options ("Options") to new
officers and existing employees and consultants of the Corporation and
its subsidiaries. Of the 6,010,000 Options granted, a total of
4,600,000 Options were granted to the newly hired officers of the
Corporation or its subsidiaries. Each Option has an exercise price of
$0.29 per share and is exercisable for a period of five years from the
date of grant.
The Corporation's rolling stock option plan was approved by the
shareholders at the Annual and Special Meeting of shareholders held on
June 14, 2012. The Corporation's stock option plan currently reserves
up to 31,430,719 Common Shares for issuance pursuant to Options, which
is equal to 10% of the number of issued and outstanding Common Shares.
Options to purchase 22,333,699 Common Shares are now outstanding, which
is equal to approximately 7.1% of the number of issued and outstanding
Madalena is an independent, Canadian-based, domestic and international
upstream oil and gas company whose main business activities include
exploration, development and production of crude oil, natural gas
liquids and natural gas. The Company currently has production and
exploration operations in Canada and Argentina. Madalena is publicly
traded on the TSXV under the symbol "MVN".
MADALENA VENTURES INC.
On behalf of the Board
President and Chief Executive Officer
Forward Looking Statements
The information in this news release contains certain forward-looking
statements. These statements relate to future events or our future
performance. All statements other than statements of historical fact
may be forward-looking statements. Forward-looking statements are
often, but not always, identified by the use of words such as "seek",
"anticipate", "plan", "continue", "estimate", "approximate", "expect",
"may", "will", "project", "predict", "potential", "targeting",
"intend", "could", "might", "should", "believe", "would" and similar
expressions. These statements involve substantial known and unknown
risks and uncertainties, certain of which are beyond the Corporation's
control, including: the impact of general economic conditions; industry
conditions; changes in laws and regulations including the adoption of
new environmental laws and regulations and changes in how they are
interpreted and enforced; fluctuations in commodity prices and foreign
exchange and interest rates; stock market volatility and market
valuations; volatility in market prices for oil and natural gas;
liabilities inherent in oil and natural gas operations; uncertainties
associated with estimating oil and natural gas reserves; competition
for, among other things, capital, acquisitions, of reserves,
undeveloped lands and skilled personnel; incorrect assessments of the
value of acquisitions; changes in income tax laws or changes in tax
laws and incentive programs relating to the oil and gas industry ;
geological, technical, drilling and processing problems and other
difficulties in producing petroleum reserves; and obtaining required
approvals of regulatory authorities. The Corporation's actual results,
performance or achievement could differ materially from those expressed
in, or implied by, such forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur or, if any of them
do, what benefits that the Corporation will derive from them. These
statements are subject to certain risks and uncertainties and may be
based on assumptions that could cause actual results to differ
materially from those anticipated or implied in the forward-looking
statements. The Corporation's forward-looking statements are expressly
qualified in their entirety by this cautionary statement. Except as
required by law, the Corporation undertakes no obligation to publicly
update or revise any forward-looking statements. Investors are
encouraged to review and consider the additional risk factors set forth
in the Corporation's Annual Information Form which is available on
SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or the
solicitation of any offer to buy the securities in any jurisdiction.
The Common Shares will not be and have not been registered under the
United States Securities Act of 1933 and may not be offered or sold in
the United States, or to a U.S. person, absent registration, or an
applicable exemption therefrom."
SOURCE: Madalena Ventures Inc.
For further information:
President and Chief Executive Officer
Madalena Ventures Inc.
Phone: (403) 835-3158