pcNewsWire – Marksmen Energy Inc. (TSX-V: MAH; OTCQB: MKSEF) has completed first closing of its previously announced non-brokered private placement for 1,837,500 units at a price of $0.08 per unit for gross proceeds of $147,000
Net proceeds will be used to pay interest on debt of approximately $75,000 and up to $325,000 will be used for participation in the drilling, completion and equipping of wells in Ohio, USA.
News Release
MARKSMEN ANNOUNCES FIRST CLOSING OF PRIVATE PLACEMENT
CALGARY, ALBERTA, June 30, 2017 – Marksmen Energy Inc. (“Marksmen” or the “Company”) announces that it has completed the first closing of its previously announced non-brokered private placement for 1,837,500 units (the “Units”) of Marksmen at a price of $0.08 per Unit for aggregate gross proceeds of $147,000 (the “Offering”). 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 first closing of the Offering.
Marksmen intends to use the net proceeds of the Offering to pay interest on debt of approximately $75,000 and up to $325,000 will be used for participation in the drilling, completion and equipping of wells in Ohio, USA.
Completion of the Offering 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.
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
