Marsa Energy Inc.

June 29, 2015 17:59 ET

Marsa Energy Inc. Completes Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwired - June 29, 2015) -


Marsa Energy Inc. ("Marsa" or the "Company") (TSX VENTURE:MEP) is pleased to announce that it has both increased the size, and completed the final tranche, of its previously announced non-brokered private placement (the "Offering"). Pursuant to this second tranche closing, Marsa issued 4,225,000 common shares at a price of $0.25 per common share for gross proceeds of $1,056,250. Together with the first tranche closing, Marsa raised total gross proceeds of $2,855,000 and issued 11,420,000 common shares.

Net proceeds from the Offering will be used to advance conversion of the Company's Ortakoy Licence into production leases and for general working capital purposes.

Finders acting in connection with the final tranche of the Offering received fees of $15,562. Closing of the Offering is subject to the final approval of the TSX Venture Exchange. The common shares issued in connection with this tranche will be subject to a four-month and one day hold period from the date of closing.

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.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements, including without limitation, statements pertaining to 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.

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