Madalena Ventures Inc. Mails Offer to Online Securityholders

    




 /NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR  DISSEMINATION IN THE UNITED STATES/ 

 CALGARY, Sept. 26, 2012 /CNW/ - Madalena Ventures Inc. ("Madalena")  and Online Energy Inc. ("Online")  jointly announce that Madalena has mailed its formal  offer documents to holders of outstanding securities of Online in  connection with an offer to acquire all of the outstanding common  shares of Online (the "Online Shares") for $0.35 cash per Online Share  (including any Online Shares issued on exercise of outstanding options  or performance warrants) prior to the expiry time of the offer (the  "Offer").  The Offer will remain open for acceptance until 10:00 a.m.  (Calgary time) on November 1, 2012, unless withdrawn or extended.  The  Offer is conditional upon, among other things, at the expiry time of  the Offer, and at the time Madalena first takes up Online Shares under  the Offer, there being validly deposited under the Offer and not  withdrawn at least 66 2/3% of the outstanding Online Shares (calculated  on a diluted basis). 

 A Directors' Circular setting out the recommendation of the board of  directors of Online in relation to the Offer has also been mailed to  holders of securities of Online.  The directors of Online entitled to  vote on the Offer have determined that the Offer is fair, from a  financial point of view, to holders of Online Shares and is in the best  interests of Online and the holders of Online Shares and has resolved  to recommend that holders of Online Shares accept the Offer and tender  their Online Shares to the Offer. 

Madalena Ventures Inc.


CONTACT:  Dwayne H. Warkentin President and Chief Executive OfficerMadalena Ventures IncPhone: [phone] ext 229Anthony J. PotterVice President, Finance and Chief Financial OfficerMadalena Ventures Inc.Phone: [phone] ext 233Steve Dabner President and Chief Executive OfficerOnline Energy Inc(403) 262-1901 ext 228Thomas LoveChief Financial OfficerOnline Energy Inc.Phone: [phone] ext 227 


    

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