Marksmen Energy Inc.

Marksmen Energy Inc.

September 14, 2012 16:05 ET

Marksmen Announces Increase to Private Placement and Officer Appointment

CALGARY, ALBERTA--(Marketwire - Sept. 14, 2012) - Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH) announces that further to its previously announced non-brokered private placement of up to 3,000,000 units (the "Units") of Marksmen at a price of $0.10 per Unit for aggregate gross proceeds of up to $300,000 (the "Offering"), the Company has increased the Offering to up to 5,000,000 Units for aggregate gross proceeds of up to $500,000. The Units will be comprised of one (1) common share ("Common Share") and one (1) share purchase warrant ("Warrant") of Marksmen. Each Warrant entitles the holder thereof to purchase one Common Share for $0.12 expiring 18 months from the date of the closing of the Offering.

Marksmen may pay a commission or finder's fee to qualified non-related parties of to up to 8% of the gross proceeds of the Offering (up to $24,000) and broker warrants (the "Broker Warrants") equal to up to 8% of the number of Units sold in the Offering (up to 240,000). Each Broker Warrant will entitle the holder to acquire one Common Share at a price of $0.10 per Broker Warrant for a period of up to 12 months from the date of issuance.

The proceeds of the Offering will be used for general working capital purposes. It is expected that management and Directors of the Company will participate in the Offering.

Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange Inc. The Common Shares issued will be subject to a four month hold period from the date of the closing of the Offering.

The Corporation is also pleased to announce the appointment of Archie Nesbitt as Chairman of the board of directors of the Corporation and President and Chief Executive Officer of the Corporation.

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, including 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.

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.

Contact Information

  • Marksmen Energy Inc.
    Archie Nesbitt
    President and Chief Executive Officer
    (403) 265-7270