|By Marketwired .||
|March 14, 2014 01:37 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 03/14/14 -- Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH) announces that it plans to complete a non-brokered private placement of up to 14,000,000 units (the "Units") of Marksmen at a price of $0.16 per Unit for aggregate gross proceeds of up to $2,240,000 (the "Offering"). The Units will be comprised of one (1) common share ("Common Share") and one-half of one (1/2) share purchase warrant ("Warrant") of Marksmen. Each whole Warrant entitles the holder thereof to purchase one Common Share for $0.25 expiring two (2) years from the date of the closing of the Offering.
Marksmen may pay a commission or finder's fee to qualified non-related parties of up to 8% of the gross proceeds of the Offering (up to $179,200) and broker warrants (the "Broker Warrants") equal to up to 8% of the number of Units sold in the Offering (up to 1,120,000). Each Broker Warrant will entitle the holder to acquire one Common Share at a price of $0.16 per Broker Warrant for a period of one (1) year from the date of issuance.
The proceeds of the Offering will be used to initiate Marksmen's light oil drilling operations in Ohio. It is expected that insiders 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 and Warrants issued will be subject to a four month hold period from the date of the closing of the Offering.
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.
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, 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 www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Marksmen Energy Inc.
Director of the Company
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