SYS-CON MEDIA Authors: Kevin Benedict, Gilad Parann-Nissany, Michael Bushong, Eric Brown

News Feed Item

Marksmen Announces Closing of Private Placement and Corporate Update

CALGARY, ALBERTA -- (Marketwired) -- 04/28/14 -- Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE: MAH) is pleased to announce that it has completed the second and final closing of its previously announced non-brokered private placement for 4,868,725 units (the "Units") of Marksmen at a price of $0.16 per Unit for gross proceeds of $778,996 (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 $0.25 expiring two (2) years from the date of the closing of the Offering.

In connection with the Offering, Marksmen paid cash commissions of $10,982.40 and issued 68,640 broker warrants (the "Broker Warrants"). Each Broker Warrant entitles 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.

Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange Inc. (the "Exchange"). The Common Shares and Warrants issued are subject to a four month hold period from the date of issuance.

Marksmen also announces that it has received approval from the Exchange to extend the expiry date of 1,025,885 share purchase warrants of the Company with the expiry date of May 3, 2014 by one (1) year to May 3, 2015. All other terms and conditions will remain the same.

The Company further announces that it has received funds totaling $328,050 in consideration for the exercise of 2,725,000 share purchase warrants to date this calendar year.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.