Marsa Energy Inc.

June 10, 2015 17:28 ET

Marsa Energy Inc. Announces Closing of the First Tranche of Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwired - June 10, 2015) -


Marsa Energy Inc. ("Marsa" or the "Company") (TSX VENTURE:MEP) is announcing that it has closed the first tranche of a non-brokered private placement offering of common shares for gross proceeds of $1,798,750, subject to TSX Venture Exchange final approval (the "Offering"). Marsa issued 7,195,000 common shares at a price of $0.25 per common share. Finders acting in connection with this tranche of the Offering received fees of $1,875. The Company anticipates to close the second tranche of the Offering on or before June 29, 2015.

The common shares issued under the Offering will be subject to a four-month and one day hold period from the date of closing. Net proceeds from the Offering will be used for advancing licence conversion into production leases and for general working capital purposes.

Mr. J. Scott Price of Suite 300, 340-12th Avenue S.W., Calgary, AB T2R 1L5, a director of Marsa, reports that he purchased 4,000,000 common shares of Marsa at a price of $0.25 per common share pursuant to the Offering. As a result of the closing of the Offering, Mr. Price now owns and exercises control over an aggregate of 8,250,000 common shares, representing approximately 19.32% of the issued and outstanding common shares of the Company, calculated on a non-diluted basis.

A copy of the Early Warning Report filed pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues can be found under the Company's profile at or by contacting Mr. Price at (403) 930-6200.

About Marsa

Marsa ( is an international energy company engaged in the acquisition, exploration, development and production of oil and natural gas. The Company's 100 percent working interest property is located on the Gallipoli Peninsula in the Republic or Turkey and is held through its wholly owned subsidiary, Marsa Turkey BV.

Marsa is headquartered in Calgary, Alberta, Canada and is publicly traded on the TSX Venture.

Information set forth in this news release contains forward-looking statements, including without limitation, statements pertaining to the closing of the second tranche of the Offering including Marsa's ability to obtain necessary approvals from the TSX Venture Exchange and the use of proceeds of the Offering. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Marsa cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Marsa's control. 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 the Marsa's disclosure documents on the SEDAR website at Marsa 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 release.

Contact Information