Glenn Walsh

June 23, 2015 13:04 ET

Marksmen Energy Inc.: Press Release

CALGARY, ALBERTA--(Marketwired - June 23, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

On June 28, 2013, Glenn Walsh indirectly acquired 2,666,667 common share purchase warrants ("Warrants") of Marksmen Energy Inc. (the "Issuer") pursuant to a private placement of the Issuer.

On June 28, 2013, Mr. Walsh, had ownership or control over 2,866,666 common shares of the Issuer (the " Common Shares") and 2,666,667 Warrants. As at that date, assuming the exercise prior to their expiry of all of the Warrants owned or controlled by Mr. Walsh, he would then beneficially own, control or have direction over, directly or indirectly, 5,533,333 Common Shares representing 14.91% of the issued and outstanding Common Shares.

As of the date hereof, Mr. Walsh has ownership or control over 6,330,000 Common Shares of the Issuer representing 10.47% of the issued and outstanding Common Shares and 4,677,445 Warrants. Assuming the exercise prior to their expiry of all of the Warrants owned or controlled by Mr. Walsh, he would then beneficially own, control or have direction over, directly or indirectly, 11,007,445 Common Shares representing 16.90% of the issued and outstanding Common Shares of the Issuer.

Mr. Walsh's acquisition of the Warrants was made for investment purposes and Mr. Walsh intends to increase or decrease his holdings in the Issuer depending on market conditions and as circumstances warrant.

Mr. Walsh issued a press release on June 23, 2015 as he became aware that his obligation to issue a press release pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") arose on June 28, 2013.

A report respecting this acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Issuer's profile at www.sedar.com.

Neither 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 release.

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