CALGARY, Alberta, May 20, 2015 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. ("Marksmen" or the "Company") announces that it plans to complete a non-brokered private placement of up to 4,333,333 units (the "Units") of Marksmen at a price of $0.15 per Unit for aggregate gross proceeds of up to $650,000 (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 $52,000) and broker warrants (the "Broker Warrants") equal to up to 8% of the number of Units sold in the Offering (up to 346,667 Units). Each Broker Warrant will entitle the holder to acquire one Common Share at a price of $0.15 per Broker Warrant for a period of one (1) year from the date of issuance.
The proceeds of the Offering will be used primarily for on-going capital projects as well as general corporate and working capital purposes.
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.
For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail firstname.lastname@example.org.
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 use of proceeds and 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.
Source:Marksmen Energy Inc.