Marksmen Announces Consolidated Financial Results for the
Quarter Ended March 31, 2018
CALGARY, Alberta,
May 30, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy Inc.
(TSX-V:MAH) (OTCQB:MKSEF) (“Marksmen” or the “Company”) and
its wholly owned subsidiary Marksmen Energy USA, Inc.
announces financial results for the interim period ended
March 31, 2018. The following documents have been
filed on SEDAR:
- Financial Statements
- Management’s Discussion and Analysis (“MD&A”)
- Form 52-109FV2 Certificate of Interim Filings – CEO
- Form 52-109FV2 Certificate of Interim Filings – CFO
These filings may
be viewed on the SEDAR website at www.sedar.com.
For additional
information regarding this news release please contact
Archie Nesbitt, CEO and President 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,
or the documents referenced may contain certain
forward-looking information. 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: GlobeNewswire (May 30, 2018 - 1:25 PM EDT)
Marksmen Closes Final Tranche of Private Placement and Announces
Various Corporate and Operational Updates
CALGARY, Alberta, April 27, 2018 (GLOBE NEWSWIRE) --
Marksmen Energy Inc. (TSXV:MAH) (OTCQB:MKSEF) (“Marksmen”
or the “Company”)
announces that it has completed the second and final
closing of its previously announced non-brokered
private placement. The Company issued 1,431,428
units (the “Units”)
of Marksmen at a price of $0.21 per Unit for gross
proceeds of $300,600, bringing the aggregate raise
to 3,458,409 Units for gross proceeds of $726,266
(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 at a price of
$0.42 per share expiring two (2) years from the date
of issuance. Marksmen did not pay any commissions in
connection with the second closing of the Offering.
Further to its press release of February 28, 2018,
Marksmen intends to use the net proceeds of the
Offering to pay for capital expenditures associated
with its 60% working interest in the Leaman #1
horizontal well, including up to $266,266 for
remaining drilling cost overruns, approximately
$330,000 for estimated hydraulic stimulation costs
and the remaining $130,000 to equip the well.
Completion of the Offering is subject to regulatory
approval including, but not limited to, the approval
of the TSX Venture Exchange Inc. (“TSXV”).
The securities issued are subject to a four month
hold period from the date of issuance.
Related Party Participation in the Private Placement
Insiders subscribed for an aggregate of 160,000
Units in the second closing of the Offering. As
insiders of Marksmen participated in this Offering,
it is deemed to be a “related party transaction” as
defined under Multilateral Instrument 61-101-Protection
of Minority Security Holders in Special Transactions (“MI
61-101”).
Neither the Company, nor to the knowledge of the
Company after reasonable inquiry, a related party,
has knowledge of any material information concerning
the Company or its securities that has not been
generally disclosed.
The Offering is exempt from the formal valuation and
minority shareholder approval requirements of MI
61-101 (pursuant to subsections 5.5(c) and
5.7(1)(b)) as it was a distribution of securities
for cash and neither the fair market value of the
Units distributed to, nor the consideration received
from, interested parties exceeded $2,500,000.
The Company did not file a material change report
more than 21 days before the expected closing of the
Offering because the details of the participation
therein by related parties of the Company were not
settled until shortly prior to closing of the
Offering and the Company wished to close on an
expedited basis for business reasons.
Annual Financial Statements
The Company also announces that it has filed the
following documents on SEDAR:
-
Audited Annual Financial Statements for the year
ended December 31, 2017
-
Management’s Discussion and Analysis
-
Form NI 51-101F1 Statement of Reserve Data and
Other Oil and Gas Information
-
Form NI 51-101F2 Report on Reserves Data by
Independent Qualified Reserve Evaluator
-
Form NI 51-101F3 Report of Management and
Directors on Oil and Gas Disclosure
-
Annual Information Form
These documents can be found in Marksmen’s
disclosure documents on the SEDAR website at
www.sedar.com.
Operational Update – Leaman #1 Horizontal Well,
Hocking Hills, Ohio
Marksmen is pleased to announce that completion and
equipping operations are proceeding at the Leaman #
1 Horizontal Clinton Sandstone well. Announcements
will be made as results are received.
Appointment of Director
The Company further announces that, subject to
regulatory approval, Donald D. Jones has been
appointed to the board of directors of the Company
effective as of today. Mr. Jones is a CPA and CA and
is currently Partner of ALW Partners LLP Chartered
Professional Accountants of Alberta. Mr. Jones has
past experience as an independent director and audit
committee chairman with Canadian entities, both
public and private. The management and directors of
Marksmen welcome Mr. Jones to the board and look
forward to working with him going forward.
Stock Option Grants
Finally, the Company announces that it has granted
1,400,000 stock options to purchase common shares of
Marksmen to directors, officers, employees and
consultants of the Company subject to regulatory and
TSX Venture Exchange approval. The stock options
were issued with an exercise price of $0.22 per
share, vest as to 1/3 immediately, and 1/3 on each
of the first and second anniversary dates, and have
a five year term.
See Pictures Below
Marksmen Energy Inc., CEO Archie Nesbitt
Joins Everett Jolly on Uptick Newswire's
"Stock Day" Podcast
Phoenix,
March 15, 2018 (GLOBE NEWSWIRE) --
Marksmen Energy Inc. (“Marksmen” or
the “Company”) (OTCQB:MKSEF)
(TSXV:MAH), CEO Archie Nesbitt, was
recently interviewed on Uptick
Newswire’s “Stock Day” podcast with
Mr. Everett Jolly.
“Today
we are welcoming back Archie
Nesbitt, Chief Executive Officer of
Marksmen Energy Inc.,” said Jolly.
“The Company was with us in late
November 2017, with a stock price of
$0.07 and is now trading between
$0.18 and $0.20.”
The
Company operates in the Clinton
Sandstone Formation in Ohio and is
close to completing its first
horizontal well. “The well we
are working on is the longest
horizontal well in the formation,”
explained Nesbitt. “We are
especially excited to have had oil
flow to surface during the drilling
process.”
Marksmen
Energy has amassed a talented and
experienced technical team for its
pioneering horizontal drilling
program. “Based on our
studies, horizontal drills produce
15-times the amount of oil that
vertical drills produce, and we are
planning to complete between eight
and ten wells this year,” continued
Nesbitt. “Between our team and
land positions, we are encouraged
about the year to come.”
To
listen to the full interview please
click here to the following link: https://drive.google.com/file/d/1Jw1recsx_IJGz4A-5MJU5piqm0hqYQRQ/view
Marksmen Closes Final Tranche of Private
Placement and Announces Various Corporate
and Operational Updates
CALGARY, Alberta, April 27, 2018 (GLOBE
NEWSWIRE) -- Marksmen Energy Inc.
(TSXV:MAH) (OTCQB:MKSEF) (“Marksmen”
or the “Company”) announces
that it has completed the second and final
closing of its previously announced
non-brokered private placement. The Company
issued 1,431,428 units (the “Units”)
of Marksmen at a price of $0.21 per Unit for
gross proceeds of $300,600, bringing the
aggregate raise to 3,458,409 Units for gross
proceeds of $726,266 (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
at a price of $0.42 per share expiring two
(2) years from the date of issuance.
Marksmen did not pay any commissions in
connection with the second closing of the
Offering.
Further to its press release of February 28,
2018, Marksmen intends to use the net
proceeds of the Offering to pay for capital
expenditures associated with its 60% working
interest in the Leaman #1 horizontal well,
including up to $266,266 for remaining
drilling cost overruns, approximately
$330,000 for estimated hydraulic stimulation
costs and the remaining $130,000 to equip
the well.
Completion of the Offering is subject to
regulatory approval including, but not
limited to, the approval of the TSX Venture
Exchange Inc. (“TSXV”). The
securities issued are subject to a four
month hold period from the date of issuance.
Related
Party Participation in the Private Placement
Insiders subscribed for an aggregate of
160,000 Units in the second closing of the
Offering. As insiders of Marksmen
participated in this Offering, it is deemed
to be a “related party transaction” as
defined under Multilateral Instrument
61-101-Protection of Minority Security
Holders in Special Transactions (“MI
61-101”).
Neither the Company, nor to the knowledge of
the Company after reasonable inquiry, a
related party, has knowledge of any material
information concerning the Company or its
securities that has not been generally
disclosed.
The Offering is exempt from the formal
valuation and minority shareholder approval
requirements of MI 61-101 (pursuant to
subsections 5.5(c) and 5.7(1)(b)) as it was
a distribution of securities for cash and
neither the fair market value of the Units
distributed to, nor the consideration
received from, interested parties exceeded
$2,500,000.
The Company did not file a material change
report more than 21 days before the expected
closing of the Offering because the details
of the participation therein by related
parties of the Company were not settled
until shortly prior to closing of the
Offering and the Company wished to close on
an expedited basis for business reasons.
Annual Financial Statements
The Company also announces that it has filed
the following documents on SEDAR:
- Audited Annual Financial Statements
for the year ended December 31, 2017
- Management’s Discussion and Analysis
- Form NI 51-101F1 Statement of
Reserve Data and Other Oil and Gas
Information
- Form NI 51-101F2 Report on Reserves
Data by Independent Qualified Reserve
Evaluator
- Form NI 51-101F3 Report of
Management and Directors on Oil and Gas
Disclosure
- Annual Information Form
These documents can be found in Marksmen’s
disclosure documents on the SEDAR website at
www.sedar.com.
Operational Update – Leaman #1 Horizontal
Well, Hocking Hills, Ohio
Marksmen is pleased to announce that
completion and equipping operations
are proceeding at the Leaman # 1 Horizontal
Clinton Sandstone well. Announcements will
be made as results are received.
Appointment of Director
The Company further announces that, subject
to regulatory approval, Donald D. Jones has
been appointed to the board of directors of
the Company effective as of today. Mr. Jones
is a CPA and CA and is currently Partner of
ALW Partners LLP Chartered Professional
Accountants of Alberta. Mr. Jones has past
experience as an independent director and
audit committee chairman with Canadian
entities, both public and private. The
management and directors of Marksmen welcome
Mr. Jones to the board and look forward to
working with him going forward.
Stock Option Grants
Finally, the Company announces that it has
granted 1,400,000 stock options to purchase
common shares of Marksmen to directors,
officers, employees and consultants of the
Company subject to regulatory and TSX
Venture Exchange approval. The stock options
were issued with an exercise price of $0.22
per share, vest as to 1/3 immediately, and
1/3 on each of the first and second
anniversary dates, and have a five year
term.
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 the use of proceeds, the
Company's ability to obtain necessary
regulatory approvals and approvals from the
TSXV and the ability of the Company to
maintain the schedule with respect to the
stimulation process on the Leaman #1
Horizontal well. 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.
Marksmen Announces Proposed Private Placement
CALGARY, Alberta, Feb. 28, 2018 (GLOBE NEWSWIRE)
-- Marksmen Energy Inc. (“Marksmen” or the
“Company”) (TSXV:MAH) (OTCQB:MKSEF) announces
that it plans to complete a non-brokered private
placement of up to 2,857,143 units (the “Units”)
of Marksmen at a price of $0.21 per Unit for
aggregate gross proceeds of up to a maximum of
$600,000 (the “Offering”). There is no minimum
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 $0.42
expiring two (2) years from the date of the
closing of the Offering.
Marksmen may pay a cash commission or finder's
fee to qualified non-related parties of up to 8%
of the gross proceeds of the Offering (up to
$48,000) and broker warrants (the “Broker
Warrants”) equal to up to 8% of the number of
Units sold in the Offering (up to 228,571 Broker
Warrants). Each Broker Warrant will entitle the
holder to acquire one Common Share at a price of
$0.21 per Broker Warrant for a period of one (1)
year from the date of issuance.
Marksmen intends to use the net proceeds of the
Offering, along with approximately $375,000 of
contingency cash on hand, to pay for capital
expenditures associated with our 60% working
interest share in the Leaman #1 horizontal well
as follows: (i) up to $420,000 for drilling cost
overruns that resulted from extreme weather
conditions, mechanical issues and slower than
anticipated drilling rates in the horizontal
leg; (ii) approximately $425,000 to complete the
hydraulic stimulation; and (iii) the remaining
$130,000 to equip the well.
The
Offering is being offered to all of the existing
shareholders of Marksmen who are permitted to
subscribe pursuant to the Existing Shareholder
Exemption. This offer is open until March 22,
2018 or such other date or dates as the Company
determines and one or more closings are expected
to occur, with the first closing anticipated for
March 22, 2018. Any existing shareholders
interested in participating in the Offering
should contact the Company pursuant to the
contact information set forth below.
The
Corporation has set February 27, 2018 as the
record date for determining existing
shareholders entitled to subscribe for Units
pursuant to the Existing Shareholder Exemption.
Subscribers purchasing Units under the Existing
Shareholder Exemption will need to represent in
writing that they meet certain requirements of
the Existing Shareholder Exemption, including
that they were, on or before the record date, a
shareholder of the Company and still are a
shareholder as at the closing date. The
aggregate acquisition cost to a subscriber under
the Existing Shareholder Exemption cannot exceed
$15,000 unless that subscriber has obtained
advice from a registered investment dealer
regarding the suitability of the investment.
As
the Company is also relying on the Exemption for
Sales to Purchasers Advised by Investment
Dealers, it confirms that there is no material
fact or material change related to the Company
which has not been generally disclosed. In
addition to offering the Units pursuant to the
Existing Shareholder Exemption and to the
Exemption for Sales to Purchasers Advised by
Investment Dealers, the Units are also being
offered pursuant to other available prospectus
exemptions, including sales to accredited
investors. Unless the Company determines to
increase the gross proceeds of the Offering, if
subscriptions received for the Offering based on
all available exemptions exceed the maximum
Offering amount of $600,000, Units will be
allocated pro rata among all subscribers
qualifying under all available exemptions.
Completion of the Offering is subject to
regulatory approval including, but not limited
to, the approval of the TSX Venture Exchange.
The Common Shares and Warrants issued will be
subject to a four month hold period from the
date of the closing of the Offering.
It
is expected that insiders of the Company will
participate in 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 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,
the closing of the private placement, statements
pertaining to the use of proceeds, and 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.
Marksmen Announces Update on Leaman 1-H Horizontal
Well
CALGARY,
Alberta, Feb. 25, 2018 (GLOBE NEWSWIRE) -- Marksmen
Energy Inc. (TSX-V:MAH) (OTCQB:MKSEF) (“Marksmen” or
the “Company”) and its wholly owned subsidiary,
Marksmen Energy USA, Inc. are pleased to provide the
following update on its Leaman 1H Clinton
Sandstone Horizontal well in Hocking County, Ohio.
The well is being drilled in conjunction with our
working interest partners and is operated by Hocking
Hill Energy (“HHE”).
Marksmen
is pleased to announce that the drilling has been
completed at the Leaman 1-H well, the Company’s
first horizontal well in the Clinton Sandstone
formation. The well was drilled to a total measured
depth of 6,398 feet, of which 2,700 feet was the
horizontal/lateral leg.
During
the drilling of the horizontal leg of the well
strong indications of hydrocarbons have been
encountered including both natural gas and oil in
the Clinton Sandstone formation, with oil to surface
in several intervals. Archie Nesbitt, CEO of
Marksmen states, “Our operations team and I are very
pleased with the hydrocarbon shows encountered
during drilling which have exceeded our
expectations.”
An
extensive logging and formation testing program paid
for by a third party scientific research
organization will begin shortly. This is
designed to acquire scientific research data
regarding the Clinton Sandstone in Ohio and will
provide Marksmen and the working interest parties
valuable information.
After
logging, production casing will be run in the
lateral leg followed by completion operations
consisting of a multi-stage stimulation program.
This will be followed by the equipping of the well
with production equipment.
Marksmen
has a 60% joint venture interest in the well and in
a four-township area of mutual interest where the
joint venture has in excess of seven thousand acres,
on which some 20-30 potential Clinton Sandstone
horizontal well locations have already been
identified by Marksmen’s technical team.
Marksmen Announces Update on Leaman 1-H Horizontal Well
CALGARY,
Alberta, Feb. 14, 2018 (GLOBE NEWSWIRE) -- Marksmen
Energy Inc. (TSXV:MAH) (OTCQB:MKSEF) (“Marksmen” or the
“Company”) and Its wholly owned subsidiary, Marksmen
Energy USA, Inc. are pleased to announce the following
update on its Leaman 1-H Clinton Sandstone Horizontal
well in Hocking County, Ohio. The well is being
drilled in conjunction with our working interest
partners and is operated by Hocking Hill Energy (“HHE”).
Drilling of
this well has been slower than expected due to very
inclement weather, mechanical issues and slower than
expected drilling rates. To date we have drilled 1,300
feet of the planned 3,000 feet lateral leg.
Marksmen is
pleased that we have encountered hydrocarbons in the
Clinton Sandstone formation with oil and gas shows that
are in-line with our engineering and geological
expectations. Completions of the drilling operations is
expected to take another 7 to 10 days. The Company
looks forward to the next phases of the well including
logging, completion and putting the well on production.
For
additional information regarding this news release
please contact Archie Nesbitt, CEO and President 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 drilling and other information
available to Marksmen. 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.
Last Month
CALGARY,
Alberta, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy
Inc. (TSX-V:MAH) (OTCQB:MKSEF) (“Marksmen” or the “Company”)
and Its wholly owned subsidiary, Marksmen Energy USA, Inc.
is pleased to announce that drilling has commenced on its
Leaman 1-H Clinton Sandstone Horizontal well in Hocking
County, Ohio. The well is expected to reach total depth by
January 31, 2018.
The working
interest partners in the well, through the operator, Hocking
Hills Energy and Well Services LLC (“HHEWS”) has entered
into an agreement with BATTELLE MEMORIAL INSTITUTE
(“Battelle"). Battelle is the world's largest Research
and Development non-profit organization. Battelle's Energy
Business group performs research into subsurface resource
management, including oil and gas research and carbon
dioxide (CO2) storage subsurface. As part of this research
portfolio, Battelle is executing a project in conjunction
with the Ohio Development Services Agency (ODSA) through the
Ohio Coal Development Office (OCDO). This project is to
investigate the potential for CO2 storage in Ohio's depleted
oil and gas fields, storing CO2 and performing enhanced oil
recovery (EOR) simultaneously.
Battelle has
agreed to participate in Marksmen’s (60% working interest)
exciting ground-breaking Leaman 1-H well in Hocking County,
Ohio. They will evaluate the prime target for CO2
storage and concurrent EOR operations is in Hocking County's
Gore Consolidated Oilfield. The Gore Consolidated Oilfield
produces from the Clinton Sandstone and can be considered a
primary target for CO2 storage evaluation because of
relatively poor (10-15%) primary recovery of the oil in
place, leading to many reserves remaining to be exploited.
Battelle will
participate in the new well planned for Washington Township,
Hocking County, the Leaman 1-H well. This well will be the
first of its kind in Hocking County and the Gore
Consolidated Oilfield, presenting a unique opportunity to
collect never-before available data. The Leaman 1-H well
will be a horizontal Clinton oil well. This well presents
the opportunity to explore untapped oil and to realize the
potential of horizontal completions in the Clinton Sandstone
in Hocking County.
Battelle's
participation includes data collection that has not yet been
performed on any horizontal Clinton well in Ohio (to our
knowledge). Following drilling, Battelle will run a suite
of wireline tools to collect valuable downhole data,
including running a triple combo log to assess porosity and
other geologic characteristics and an acoustic log to assess
geo-mechanical properties (critical to understanding
formation mechanics for potential CO2 storage). Following
the wireline logging tool deployment, Battelle will run a
series of downhole pressure reservoir tests to evaluate the
permeability profile and investigate downhole fluid
saturation and movement. This information is valuable for
potential CO2 storage, but will inform production potential
and show targeted areas for high permeability, completion
targets for production. This information will be valuable
for developing future wells, to target intervals within the
Clinton Sands for stimulation and production. This data has
the potential to have a large impact of the understanding of
the downhole properties and production potential of the Gore
Consolidated / Hocking County Clinton Sandstone. The
estimate cost, paid solely by Battelle, is
$500,000-$750,000.
This well was
selected for evaluation by Battelle because it is the first
of its kind and will provide never-before-available datasets
to aid Battelle's subsurface research initiatives, but the
data will be open for use to HHEWS and its partners in the
well to develop the oil production potential in the local
region. This partnership is set up such that Battelle will
pay for the data collection, analyze the data, and share the
results with HHEWS for future use. Data will remain
confidential for a period of time specified in the agreement
between the parties.
For additional
information regarding this news release please contact
Archie Nesbitt, CEO and President at (403) 265-7270 e-mail info@marksmen.ca
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 drilling and other opportunities
available to Marksmen. 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.
Marksmen Announces Closing of Private Placement
CALGARY, Alberta,
Dec. 22, 2017 (GLOBE NEWSWIRE) -- Marksmen Energy
Inc. (TSX-V:MAH) (OTCQB:MKSEF) (“Marksmen” or
the “Company”) announces that it has completed
its non-brokered private placement announced on December 12,
2017 for 3,826,333 units (the “Units”) of Marksmen at a price of
$0.15 per Unit for aggregate gross proceeds of $573,949.95 (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 $0.30 expiring two (2) years from
the date of issuance.
Marksmen will pay a
cash commission to qualified non-related parties of $16,792 and
will issue 111,947 broker warrants entitling the holder to
acquire one Common Share of the Company at a price of $0.15 for
a period of one year from date of issuance.
The proceeds of the
Offering will be used to pay for capital expenditures related to
a drilling program in Ohio, USA as described more fully in a
press release dated December 12, 2017. The additional funds
raised over the initial $450,000, will be used for the
acquisition of oil and gas leases complementary to lands already
in the program, and for additional geological and engineering
support.
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 issuance.
Related Party Participation
in the Private Placement
As insiders of Marksmen participated
in this Offering, it is deemed to be a “related party
transaction” as defined under Multilateral Instrument 61-101-Protection
of Minority Security Holders in Special Transactions (“MI
61-101“).
Neither the Company,
nor to the knowledge of the Company after reasonable inquiry, a
related party, has knowledge of any material information
concerning the Company or its securities that has not been
generally disclosed.
The Offering is
exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101 (pursuant to subsections
5.5(c) and 5.7(1)(b)) as it was a distribution of securities for
cash and neither the fair market value of the Units distributed
to, nor the consideration received from, interested parties
exceeded $2,500,000.
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 the use
of proceeds, and 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.
Uptick Newswire “Stock Day” Interviews CEO of Marksmen on Major Oil
Drilling Opportunity in Ohio
CALGARY, Alberta , Nov. 30, 2017 (GLOBE
NEWSWIRE) --
Uptick Newswire invites Archie Nesbitt,
CEO of Marksmen Energy Inc. (TSX-V:MAH)
(OTCQB:MKSEF)
(“Marksmen” or the “Company”), for an update on what the
Company has been accomplishing and what the Company plans to
accomplish moving forward. In the first half of the interview, Mr.
Nesbitt discusses the Company’s new modern technology and how the
Company drills with this technology to produce the most from its oil
wells. He discusses the reason why Marksmen is in Ohio putting
together a horizontal drilling team, in the Clinton Sandstone, using
the new, up-to-date technology to “open up” the wells, further
discussing that the Company will start drilling in less than 2
weeks. He elaborates on the private placement to participate in the
first horizontal well, the percentage negotiations to take control
of the overall project, the thought on the overall revenue income
for the life of the well with hard costs and the gives great details
on the partners coming in on the project. Furthermore, Mr. Nesbitt
discusses the pros and cons of investing in oil companies and junior
oil companies and how Marksmen is different from other companies
within the industry.
In closing CEO Mr. Nesbitt states, “We
are going to be striving to be better known in the US and we will do
a lot of work to become better known to the investors in the US.
Doing this we think will benefit our shareholders and that will give
people a lot more opportunity to participate in our oil and gas
resources.”
To listen to the full interview please click
here or the following link: https://upticknewswire.com/featured-interview-ceo-archie-nesbitt-of-marksmen-energy-inc-otcqb-mksef/
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
drilling and other opportunities available to Marksmen. 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: Uptick
Newswire
Marksmen Announces Final Closing of Private Placement
CALGARY, Alberta,
Oct. 27, 2017 (GLOBE NEWSWIRE) -- Marksmen Energy Inc.
(TSX-V:MAH) (OTCQB:MKSEF) (“Marksmen” or the “Company”)
announces that, further to its previously issued press releases,
it has completed the third and final closing of its previously
announced non-brokered private placement. In total, the Company
issued 3,002,500 units (the “Units”) of
Marksmen at a price of $0.08 per Unit for aggregate gross
proceeds of $240,200 (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 closing of the Offering.
Marksmen intends to use the net proceeds of the Offering to pay
interest on debt of approximately $75,000 and the remainder 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.
Related Party Participation
in the Private Placement
As insiders of Marksmen participated
in this Offering, it is deemed to be a “related party
transaction” as defined under Multilateral Instrument 61-101-Protection
of Minority Security Holders in Special Transactions (“MI
61-101“).
Neither the Company,
nor to the knowledge of the Company after reasonable inquiry, a
related party, has knowledge of any material information
concerning the Company or its securities that has not been
generally disclosed.
The Offering is
exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101 (pursuant to subsections
5.5(c) and 5.7(1)(b)) as it was a distribution of securities for
cash and neither the fair market value of the Units distributed
to, nor the consideration received from, interested parties
exceeded $2,500,000.
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 the use
of proceeds, and 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.
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