Marksmen Announces Closing of Private Placement and Operations Update
20 Janvier 2014 - 2:01PM
Marketwired Canada
NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH) is pleased
to announce that it has completed its previously announced non-brokered private
placement for 985,000 units (the "Units") of Marksmen at a price of $0.125 per
Unit for gross proceeds of $123,125 (the "Offering"). The Units are 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 $0.18 expiring three (3) years from the date of
the closing of the Offering, provided that, if the Common Shares close at or
above $0.40 for 10 trading days at any time after the expiry of four months and
one day from the date of issuance, the expiry date shall be automatically
reduced to the date that is 30 days after the date the Company provides written
notice to the holders of Warrants of the new expiry date.
Marksmen did not pay any commission or finder's fee with respect to 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 are subject to a four month hold period from the date of
issuance.
Seismic Update - Ohio
Bay Geophysical has been contracted by Marksmen for the completion of a 3D
seismic geophysical survey in Ohio as part of a joint venture agreement with
Houghton Investments LLC ('Houghton'). Survey work was completed in December
2013 and the acquisition of seismic data is currently in progress. Marksmen
anticipates that the acquisition and geophysical interpretation of the data
should be completed in the first week of February. Once completed, Marksmen will
work with Houghton to determine viable drilling locations.
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
completion of the acquisition of the seismic data and 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Marksmen Energy Inc.
Archie Nesbitt
Director
(403) 265-7270
info@marksmen.ca
Marksmen Energy (TSXV:MAH)
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