Mr. Glenn Walsh

May 09, 2016 19:00 ET

Mr. Glenn Walsh: Early Warning Report

CALGARY, ALBERTA--(Marketwired - May 9, 2016) -

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, Glenn Walsh indirectly acquired 5,000,000 common shares ("Common Shares") of Marksmen Energy Inc. (the "Issuer") through his wholly owned company, Conex Services Inc. ("Conex") pursuant to a private placement of the Issuer. The price per security was $0.05 per share for total consideration of $250,000.

Immediately prior to the acquisition, Mr. Walsh held, directly and indirectly, 7,594,700 Common Shares representing 11.94% of the issued and outstanding Common Shares. Mr. Walsh also held 4,412,745 share purchase warrants ("Warrants") of the Issuer. Assuming the exercise of all of the Warrants owned or controlled by Mr. Walsh prior to their expiry, he would then beneficially own, control or have direction over, directly or indirectly, 12,007,445 Common Shares representing 18.88% of the issued and outstanding Commons Shares.

As of the date hereof, Mr. Walsh holds, directly and indirectly 12,594,700 Common Shares representing 16.73% of the issued and outstanding Common Shares and 4,412,745 Warrants of the Issuer. Assuming the exercise of all of the Warrants owned or controlled by Mr. Walsh prior to their expiry, he would then beneficially own, control or have direction over, directly or indirectly, 17,007,445 Common Shares representing 21.35% of the issued and outstanding Common Shares.

Mr. Walsh's acquisition of the Common Shares 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.

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.

Not for distribution to United States news wire services or dissemination in the United States.

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