Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH)(OTCQB:MKSEF) announces that it has completed the second and final closing of its previously announced non-brokered private placement for 1,350,000 units (the "Units") of Marksmen at a price of $0.10 per Unit for aggregate gross proceeds of $135,000 (the "Private Placement"), bringing the total raised to date to $281,000. Each Unit is 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 issuance.
Marksmen did not pay any commissions in connection with the Private Placement.
Completion of the Private Placement is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange Inc. The securities issued are subject to a four month hold period from the date of issuance.
Marksmen is an emerging Canadian energy company with an initial focus on exploring and developing light oil assets in Ohio
SOURCE: Marksmen Energy Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.