CALGARY, March 24, 2016 /CNW/ - Madalena Energy Inc.
("Madalena" or the "Company") (TSXV: MVN and OTCQX:
MDLNF) announces the departure of Kevin
Shaw as President and Chief Executive Officer of the
Company. The Madalena board of directors (the "Board")
thanks Mr. Shaw for his contributions to the Company and wishes him
success in the future.
Steven Sharpe, Chairman of the
Board, has been appointed Interim President and Chief Executive
Officer and will direct the ultimate search for a permanent
CEO.
Madalena is pleased to announce the appointment of Eric Mark to the Board effective
immediately.
Mr. Mark, an independent director, is currently a Managing
Director at Batuta Capital Advisors ("Batuta"), a merchant
bank targeting middle market and special situation opportunities in
both the public and private markets. Batuta specializes in
turnarounds, bankruptcies and distressed opportunities across the
capital structure. Prior to joining Batuta, Mr. Mark was a Senior
Analyst/Junior Portfolio Manager at BTG Pactual ("BTG"), a
Brazilian investment bank, co-managing a $2
billion portfolio of distressed, high yield and special
situation equities. During such time, Mr. Mark led official
and ad hoc restructuring committees and advised BTG investment
bankers in the restructuring of several South American companies,
including OGX, SMU and Nextel
International. Mr. Mark is experienced in investment analysis
(credit and equity) in the energy, metals & mining, general
industrials and telecommunications sectors across North America, South
America and Europe.
Mr. Mark received a BA in economics and French literature and an
MA in economics from Indiana University
in 1990 and 1993, respectively, and during such time Mr. Mark
completed PhD course-work in mathematical economics, international
economics and development economics. In 1997, Mr. Mark received his
MBA from the University of Chicago with
concentrations in finance, international business and statistics.
With Mr. Mark's background and skills, Madalena believes that
Mr. Mark will be a valuable contributor to the Board and
Madalena.
About Madalena Energy
Madalena is an independent, Argentina focused, upstream oil and gas
company.
Madalena holds approximately 950,000 net acres in four provinces
of Argentina where it is focused
on the delineation of large shale and unconventional resources in
the Vaca Muerta shale, Lower Agrio shale and Loma Montosa oil play. The Company is
implementing horizontal drilling and completions technology to
develop both its conventional and resource plays.
Madalena trades on the TSX Venture Exchange under the symbol MVN
and on the OTCQX under the symbol MDLNF.
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.
SOURCE Madalena Energy Inc.