Marksmen Announces Up to $1.38M Private Placement to Fund Oil Property Acquisitions

Marksmen Energy Inc., an Alberta-based junior oil and gas company, has announced plans to complete a private placement of up to 10 million common shares at $0.12 per share for gross proceeds of up to $1.2 million.

The offering, which will be non-brokered, also includes an over-allotment option that could increase the total amount raised to $1.38 million.

Marksmen intends to use the funds to acquire non-operated working interests in existing oil properties in Alberta operated by a private company.