Non-brokered sale sells units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., March 14 - Marksmen Energy Inc. said it arranged a C$2.24 million non-brokered private placement of units.
The company will sell 14 million units of one common share and one half-share warrant at C$0.16 per unit.
Each whole warrant is exercisable at C$0.25 for two years. The strike price is a 19.05% premium to the March 13 closing share price of C$0.21.
Proceeds will be used to initiate Marksmen's light oil drilling operations in Ohio.
Calgary, Alta.'s Marksmen is an oil and gas explorer.
| Issuer: | Marksmen Energy Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2.24 million
|
| Units: | 14 million
|
| Price: | C$0.16
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | March 14
|
| Stock symbol: | TSX Venture: MAH
|
| Stock price: | C$0.21 at close March 13
|
| Market capitalization: | C$8.88 million
|
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