Iroquois Capital Comments on Recent Developments at Madalena Energy Inc.

NEW YORK, Aug. 6, 2014 /PRNewswire/ -- Iroquois Capital Management, LLC (together with its affiliates), a significant shareholder of Madalena Energy Inc. ("Madalena" or the "Company") (TSXV: MVN and OTC: MDLNF), announced today that it had noted with interest the recent operational outlook and guidance released by Madalena.

Joshua Silverman, the Managing Member of Iroquois Capital, stated,"As a shareholder of Madalena we are very concerned with management's failure to generate shareholder value.  We expect to hear some concrete steps the Company is taking to better manage their assets for maximum value creation during their investor conference call tomorrow."

About Iroquois Capital Management, LLC

Iroquois Capital is a registered investment adviser that provides investment advisory services to Iroquois Master Fund Ltd., a Cayman Islands exempted limited company.

Investor contacts:
Joshua Silverman, (212) 974-3070

SOURCE Iroquois Capital Management, LLC