Marksmen Energy Announces Proposed Private Placement for Up to $1.2 Million

Marksmen Energy Inc., a junior oil and gas company in Alberta, Canada, has announced plans to complete a non-brokered 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 will be conducted through a combination of accredited investors and existing shareholders who are permitted to subscribe under the Existing Security Holder Exemption.

Marksmen intends to use the proceeds from the private placement to settle debt with Conex Services Inc., acquire non-operated working interests in existing oil properties, and cover working capital and costs associated with the offering.