MARKSMEN ENERGY INC

TSX.V MAH / OTCQB MKSEF

Latest Podcast - Bull Report Sets $1 Target

MARKSMEN ENERGY IS SET TO RIDE THE UPCOMING WAVE OF CRUDE OIL


OPEC has agreed in principle to extend oil production cuts until the end of 2018, according to multiple reports, which cite delegates at the meeting in Vienna; confirmation is still to come.Crude oil markets, which have expected this outcome, already were higher and remain so: WTI +0.7% at $57.69/bbl, Brent +1.3% at $63.91/bbl.



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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

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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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