Marksmen Resources Ltd.

Marksmen Resources Ltd.

July 03, 2009 09:34 ET

Marksmen Reaches Agreement With Lending Group to Extend Term of Original Loan

CALGARY, ALBERTA--(Marketwire - July 3, 2009) - Marksmen Resources Ltd. (TSX VENTURE:MA) ("Marksmen") announces that it has reached an agreement ("Second Amending Agreement") with its lending group ("Lenders") to extend the Maturity Date of the original Loan Agreements from June 27, 2009 to December 31, 2009. In addition, interest payments will continue to be suspended until the new Maturity Date.

Under the terms of the Second Amending Agreement, interest to the Lenders will continue to be calculated and added to and form part of the outstanding principal owing under the Loan Agreements. The Lenders have also agreed that the suspension of the interest payments does not constitute an Event of Default under the Security Agreements with the Lenders.

Except as stated above, all the rights and obligations of the Parties under the Security Agreements shall otherwise remain in full force and effect until the new Maturity Date of December 31, 2009.

On behalf of the Board of Directors

Peter Malenica, President & CEO

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen's disclosure documents on the SEDAR website at Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Contact Information

  • Marksmen Resources Ltd.
    Peter Malenica
    President & CEO
    (403) 265-7270