Mr. Archibald Nesbitt

May 10, 2016 17:59 ET

Mr. Archibald Nesbitt: Early Warning Report

CALGARY, ALBERTA--(Marketwired - May 10, 2016) -

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 May 6, 2016, Archibald Nesbitt indirectly acquired 600,000 common shares ("Common Shares") of Marksmen Energy Inc. (the "Issuer") through his wholly owned company, Archibald J. Nesbitt Professional Corp. ("AJNPC") pursuant to a private placement of the Issuer. The price per security was $0.05 per share for total consideration of $30,000.

As of March 13, 2014, Mr. Nesbitt had control over 4,505,893 Common Shares representing 12.18% of the issued and outstanding Common Shares, 695,000 stock options (the "Options") and 2,760,167 share purchase warrants (the "Warrants"). Assuming the exercise of the Options and Warrants owned by Mr. Nesbitt, he beneficially owned, had control or direction over, directly or indirectly, 7,961,060 Common Shares representing 19.78% of the issued and outstanding Common Shares as of March 13, 2014.

Immediately prior to the acquisition, Mr. Nesbitt held, directly and indirectly, 6,823,080 Common Shares representing 10.73% of the issued and outstanding Common Shares (8,950,580 Common Shares representing 13.62% of the issued and outstanding Commons Shares assuming the exercise of the Options and Warrants).

As of the date hereof, Mr. Nesbitt held, directly and indirectly, 7,523,080 Common Shares representing 10.00% of the issued and outstanding Common Shares (9,550,580 Common Shares representing 12.34% of the issued and outstanding Commons Shares assuming the exercise of the Options and Warrants).

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

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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