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Marksmen Announces Correction to News Release

/EIN News/ -- CALGARY, Alberta, Nov. 26, 2019 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSXV: MAH) (OTCQB: MKSEF) announces corrections to its news release dated November 22, 2019 with respect to the completion of the first closing of its previously announced non-brokered private placement of units (the “Units”) of Marksmen (the “Offering”). The Company disclosed that the Units are comprised of one (1) common share (“Common Share”) and one-half of one (1/2) share purchase warrant (“Warrant”) of Marksmen, however, the Units are comprised of one Common Share and one Warrant.  

This incorrect disclosure was also reflected in the number of Warrants held by Mr. Archie Nesbitt under the heading Early Warning Report. The news release stated that immediately after the first closing of the Offering, Mr. Nesbitt owned, directly and indirectly, 10,832,697 Common Shares representing 9.67% of the issued and outstanding Common Shares, 1,770,833 Warrants and 1,198,327 vested Options. Assuming the exercise of the Warrants and vested Options, Mr. Nesbitt would own, directly and indirectly, 14,292,530 Common Shares, representing 12.38% of the issued and outstanding Common Shares.  With the correct number of Warrants reflected, immediately after the first closing of the Offering, Mr. Nesbitt owned, directly and indirectly, 10,832,697 Common Shares representing 9.67% of the issued and outstanding Common Shares, 1,925,833 Warrants and 1,198,327 vested Options. Assuming the exercise of the Warrants and vested Options, Mr. Nesbitt would own, directly and indirectly, 14,447,530 Common Shares, representing 12.51% of the issued and outstanding Common Shares.

A report respecting this acquisition has been filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and is available for viewing on the Company's profile at www.sedar.com.

For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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