Marksmen Energy Seeks Up to $1.2 Million in Private Placement

Marksmen Energy Inc., a junior oil and gas company in Alberta, Canada, is proposing 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 includes an over-allotment option of up to $180,000 at the discretion of Marksmen.

Funds from the offering will be allocated as follows: up to $96,000 for finder's fees, $104,000 for working capital and costs associated with the offering, and up to $1 million for acquiring non-operated working interests in existing oil properties in Alberta.

The company is also in discussions to acquire non-operated working interests in oil wells in Alberta, but no formal agreement has been reached.