Marksmen Energy Inc.

Marksmen Energy Inc.

June 13, 2012 17:22 ET

Marksmen Proposes to Raise Funds to Expand Ohio Oil Exploration

CALGARY, ALBERTA--(Marketwire - June 13, 2012) - Marksmen Energy Inc. (TSX VENTURE:MAH) ("Marksmen" or the "Company") is pleased to announce that it plans to complete a non-brokered private placement of up to 27,272,727 common shares (the "Common Shares") of Marksmen at a price of $0.11 per Common Share for aggregate gross proceeds of up to $3,000,000 (the "Offering").

The proceeds of the Offering will be used to advance Marksmen's land and exploration program in Ohio and Michigan. The Company is focused on finding and developing conventional light oil pools using modern technology in an under explored basin. New management at Marksmen has assembled a multidisciplinary cross border team with extensive experience in the target play types and is establishing joint venture relationships to accelerate its program. 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. Marksmen may pay a cash commission or finder's fee to qualified non-related parties of up to 10% of the gross proceeds of the Offering (up to $300,000).

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.
    Stephen P. Gibson
    President and Chief Executive Officer
    (403) 265-7270