Scandinavian Oil-Gas Magazine

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Marksmen plans to complete proposed private placement

Marksmen Energy Inc. plans to complete a non-brokered private placement of up to 10,000,000 common shares (the "Common Shares") of Marksmen at a price of $0.08 per share for aggregate gross proceed

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Marksmen Energy Inc.

Marksmen Energy Inc. plans to complete a non-brokered private placement of up to 10,000,000 common shares (the "Common Shares") of Marksmen at a price of $0.08 per share for aggregate gross proceeds of up to $800,000 (the "Private Placement").

Marksmen may pay a commission or finder's fee to qualified non-related parties of up to 8% of the gross proceeds of the Private Placement (up to $64,000) and broker warrants (the "Broker Warrants") equal to up to 8% of the number of Common Shares sold in the Private Placement (up to 800,000). Each Broker Warrant will entitle the holder to acquire one Common Share at a price of $0.08 per Broker Warrant for a period of one (1) year from the date of issuance.

The proceeds of the Private Placement will be used primarily for on-going capital projects including the drilling, completing and equipping of well(s) in Ohio, USA, as well as general and corporate working capital purposes.

Tags: Marksmen Energy Inc.