Marksmen Energy Inc.

Marksmen Energy Inc.

July 03, 2013 09:16 ET

Marksmen Announces Amendments to and Closing of Private Placement

CALGARY, ALBERTA--(Marketwired - July 3, 2013) -


Marksmen Energy Inc. (TSX VENTURE:MAH) ("Marksmen" or the "Company") announces that it has closed its previously announced non-brokered private placement of a secured debenture ("Debenture") for gross proceeds of $750,000 (the "Offering") and share purchase warrants of the Company (the "Warrants"). The Company also announces that the terms of the Offering were amended and Marksmen issued 2,666,667 Warrants rather than the 4,000,000 previously announced and the expiry date of the Warrants was amended to one month following payment in full of the Debenture. In addition, the Debenture shall bear interest at a rate of 12% per annum. All other terms and conditions of the Offering remain the same.

The new funds will enable the Company to conduct 3D seismic testing on its previously announced Hougton Project in Ohio. It will also set the direction for future drilling programs on the acreage being tested.

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 or accuracy of this news release.

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the closing of the private placement including the Company's ability to obtain necessary approvals from the TSX Venture Exchange. All statements included herein, other than statements of historical fact, are 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.

Contact Information

  • Marksmen Energy Inc.
    Archie Nesbitt
    CEO and Director
    (403) 265-7270