Non-brokered sale sells units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., Sept. 3 - Marksmen Energy Inc. said it arranged a C$1.25 million non-brokered private placement of units on Aug. 30.
The company will sell 10 million units of one common share and one half-share warrant at C$0.125 per unit.
Each whole warrant is exercisable at C$0.18 for three years. The strike price is a 20% premium to the Aug. 29 closing share price of C$0.15.
Proceeds will be used for seismic, drilling and advancing the company's projects 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$1.25 million
|
| Units: | 10 million
|
| Price: | C$0.125
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.18
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 30
|
| Stock symbol: | TSX Venture: MAH
|
| Stock price: | C$0.15 at close Aug. 29
|
| Market capitalization: | C$5.17 million
|
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