Marksmen Energy Inc. has completed the first closing of its previously announced non-brokered private placement for 3,868,000 units (the "Units") of Marksmen at a price of $0.15 per Unit for gross proceeds of $580,200 (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.
Marksmen did not pay any commissions in connection with the first closing of 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 are subject to a four month hold period from the date of issuance.