Marksmen Energy plans private placement to raise up to $1.38M

Marksmen Energy Inc., a junior oil and gas company based in Calgary, Alberta, has announced a proposed non-brokered private placement of up to 10,000,000 common shares at $0.12 per share, seeking gross proceeds of up to $1,200,000, with an over-allotment option of up to $180,000 at the company's discretion.

According to a press release, Marksmen intends to allocate up to $1,000,000 of the proceeds toward acquiring non-operated working interests in existing oil properties in Alberta from a private Alberta oil and gas company. The company states it is in discussions to acquire the working interests but has not reached a formal agreement. The remaining proceeds are earmarked for finder's fees of up to $96,000 and approximately $104,000 for working capital and offering costs.

The offering is open to existing shareholders under the Existing Security Holder Exemption, with a record date of August 6, 2026. The offer closes September 22, 2026, with a first closing anticipated on or about August 25, 2026. Shares issued will be subject to a four-month hold period. The offering requires approval from the TSX Venture Exchange.

Separately, Marksmen has agreed, conditional on the offering closing, to settle approximately $1,925,788 in debt owed to Conex Services Inc., a company wholly owned by Glenn Walsh, an insider of Marksmen. The debt settlement would involve the issuance of 5,500,000 common shares at approximately $0.36 per share. The transaction is classified as a related party transaction under Multilateral Instrument 61-101 but is exempt from formal valuation and minority shareholder approval requirements, as the value of securities distributed did not exceed $2,500,000.

Marksmen trades on the TSX Venture Exchange. Insiders of the company may participate in the offering.

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