News Column

Marksmen Announces Completion of Private Placement

Dec 14 2012 12:00AM

Marketwire

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CALGARY, ALBERTA -- (Marketwire) -- 12/14/12 -- Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE: MAH) is pleased to announce that it has completed its previously announced non-brokered private placement (the "Offering") for 2,960,000 units ("Units") of the Company at a price of $0.10 per Unit for gross proceeds of $296,000. Each Unit consists of one common share ("Common Share") and one share purchase warrant of the Company ("Warrant"), with each whole Warrant entitling the holder thereof to purchase one Common Share at a price of $0.12 per share for a period of 18 months from the closing date of the Offering.

In connection with the Offering, Marksmen paid cash commissions of $800 and issued 8,000 broker warrants (the "Broker Warrants"). Each Broker Warrant entitles the holder to acquire one Common Share at a price of $0.10 per Broker Warrant for a period of up to 12 months from the date of issuance.

The proceeds of the Offering will be used for general working capital purposes. 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 the closing of the Offering.

This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the closing of the private placement including 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.

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.



Contacts:
Marksmen Energy Inc.
Archie Nesbitt
President and Chief Executive Officer
(403) 265-7270
info@marksmen.ca





Source: Marketwire