Marksmen Energy Inc.

Marksmen Energy Inc.

February 03, 2017 16:31 ET

Marksmen Announces Update Regarding Private Placement

CALGARY, ALBERTA--(Marketwired - Feb. 3, 2017) - Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH)(OTCQB:MKSEF) announces that, further to its previous press release, it intends to complete by March 3, 2017 one or more additional closing(s) of its previously announced non-brokered private placement of up to 12,500,000 units (the "Units") of Marksmen at a price of $0.10 per Unit for aggregate gross proceeds of up to $1,250,000 (the "Private Placement").

The Company has completed the first closing of the Private Placement for 1,460,000 Units for aggregate gross proceeds of $146,000.

Marksmen did not pay any commissions in connection with the first closing of the Private Placement.

Completion of the Private Placement is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange Inc. The Common Shares issued are subject to a four month hold period from the date of issuance.

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.

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