MARKSMEN ANNOUNCES FILING OF EARLY WARNING REPORT BY GLENN WALSH
10 Janvier 2022 - 11:01PM
Marksmen Energy Inc. (“
Marksmen” or the
“
Company”) announces that an early warning report
has been filed by Glenn Walsh, an insider of the Company. On
December 30, 2021, Mr. Walsh exercised 800,000 share purchase
warrants of the Issuer (the “
Warrants”) held
indirectly through his wholly owned company, Conex Services Inc.
(“
Conex”), resulting in the disposition of 800,000
Warrants and the acquisition of 800,000 common shares of the
Company (the “
Common Shares”). Mr. Walsh
previously filed an early warning report on May 9, 2016, and the
exercise of the Warrants, combined with an increase in the issued
and outstanding securities of the Company, resulted in a decrease
to his diluted holdings of 3.80% which triggered the requirement to
file the report.
As at the date of Mr. Walsh's previously filed
early warning report of May 9, 2016, Mr. Walsh held, directly and
indirectly, 16.73% of the issued and outstanding Common Shares on
an undiluted basis (21.35% on a diluted basis). Prior to the
exercise of the 800,000 Warrants by Mr. Walsh, he held, directly
and indirectly, 17.58% of the issued and outstanding Common Shares
on an undiluted basis (20.22% on a diluted basis). Following the
exercise of the 800,000 Warrants, Mr. Walsh holds, directly and
indirectly, 15.61% of the outstanding Common Shares on an undiluted
basis (17.55% on a diluted basis).
Immediately after the transaction that triggered
the requirement to file the report, Mr. Walsh held, directly and
indirectly, 25,452,167 Common Shares representing 15.61% of the
issued and outstanding Common Shares and 3,842,500 Warrants
(29,294,667 Common Shares representing 17.55% of the issued and
outstanding Commons Shares assuming the exercise of the
Warrants).
Mr. Walsh intends to increase or decrease his
holdings in the Company depending on market conditions and as
circumstances warrant.
A report respecting this acquisition has been
filed with the applicable securities commissions using the Canadian
System for Electronic Document Analysis and Retrieval (SEDAR) and
is available for viewing on the Company's profile at
www.sedar.com.
For additional information regarding this news
release please contact Archie Nesbitt, Director and CEO of the
Company at (403) 265-7270 or e-mail
ajnesbitt@marksmenenergy.com.
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 Mr. Walsh's intentions. 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.
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