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Marksmen Energy Inc. (MAH.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.03000.0000 (0.00%)
As of 12:06PM EDT. Market open.
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Previous Close0.0300
Open0.0350
Bid0.0300 x 0
Ask0.0350 x 0
Day's Range0.0300 - 0.0350
52 Week Range0.0200 - 0.0700
Volume23,000
Avg. Volume14,047
Market Cap3.72M
Beta (5Y Monthly)0.72
PE Ratio (TTM)N/A
EPS (TTM)-0.0330
Earnings DateApr. 26, 2019 - Apr. 29, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Marksmen Announces Third and Final Closing of Private Placement

    CALGARY, Alberta, Sept. 04, 2020 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (TSXV: MAH) (OTCQB: MKSEF) (“Marksmen” or the “Company”) announces that it has completed the third and final closing of its previously announced non-brokered private placement of units (the “Units”) of Marksmen (the “Offering”). The Company issued 465,000 Units at a price of $0.05 per Unit for aggregate gross proceeds of $23,250, bringing the aggregate total raised to date under the Offering to $344,250. Each Unit is comprised of one (1) common share (“Common Share”) and one (1) share purchase warrant (“Warrant”) of Marksmen. Each whole Warrant entitles the holder thereof to purchase one Common Share at a price of $0.075 per share expiring two (2) years from the date of issuance. Marksmen paid no cash commissions pursuant to the Offering.Marksmen intends to use the gross proceeds raised under the entire Offering to pay debenture interest of $75,000, $250,000 toward the recompletion of a well targeting the Clinton Sandstone formation in Portage County, Ohio, and the remaining $19,250 as working capital.Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The securities issued are subject to a four month hold period from the date of issuance.Related Party Participation in the Private PlacementInsiders subscribed for 365,000 of the Units in the third and final closing of the Offering for a total of 78.49% of the third and final closing of the Offering. As insiders of Marksmen participated in this third and final closing of the Offering, it is deemed to be a “related party transaction” as defined under Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions (“MI 61-101”).Neither the Company, nor to the knowledge of the Company after reasonable inquiry, a related party, has knowledge of any material information concerning the Company or its securities that has not been generally disclosed.The Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 (pursuant to subsections 5.5(c) and 5.7(1)(b)) as it was a distribution of securities for cash and neither the fair market value of the Units distributed to, nor the consideration received from, interested parties exceeded $2,500,000.The Company did not file a material change report more than 21 days before the expected closing of the Offering because the details of the participation therein by related parties of the Company were not settled until shortly prior to the first closing of the Offering and the Company wished to close on an expedited basis for business reasons.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.This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the use of proceeds, the Company's ability to obtain necessary approvals from the TSXV. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties.  There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information.  A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen’s disclosure documents on the SEDAR website at www.sedar.com.  Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.

  • GlobeNewswire

    Marksmen Announce Q2 2020 Filings on SEDAR

    CALGARY, Alberta, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (TSXV: MAH) (OTCQB: MKSEF) (“Marksmen” or the “Company”) announces that it has filed disclosure documents for the three and six-months ended June 30, 2020 on SEDAR as listed below: * Unaudited Financial Statements * Management’s Discussion and Analysis * CEO certificate of interim filings * CFO certificate of interim filingsThese documents can be found in Marksmen’s disclosure documents on the SEDAR website 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.This news release may contain certain forward-looking information and statements. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties.  There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information.  A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen’s disclosure documents on the SEDAR website at www.sedar.com.  Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.

  • GlobeNewswire

    Marksmen Announces Successful Settlement Agreement

    CALGARY, Alberta, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (TSXV: MAH) (OTCQB: MKSEF) and its wholly owned subsidiary, Marksmen Energy USA, Inc. (“Marksmen” or the “Company”) announces that further to its news releases issued on November 28, 2019 and December 13, 2019, it has successfully defended a legal claim initiated by Hocking Hills Energy and Well Services LLC (“HHE”) of Ohio.  HHE is the operator of the Leaman 1 Clinton Sandstone Horizonal (“CSH”) well drilled in Hocking County, Ohio, of which Marksmen was a 60% working interest partner.  A settlement agreement (the “Agreement”) has been reached effective June 23, 2020. In the fall of 2019 Marksmen held back payment of certain amounts totaling approximately $190,800 USD owing to HHE, pending the results of a joint venture audit.  Marksmen has included these amounts as liabilities in its year end and quarterly financial statements pending the outcome of the joint venture audit, which was then superseded by the need to settle this legal matter.Before the audit was completed HHE entered a claim in Hocking Common Pleas Court, Ohio.  Marksmen petitioned and was successful in moving the claim to the Federal Court in Ohio.  Marksmen put forward counter claims that clearly outlined its position.  The Federal Court mandates that all claims of this type must go through a mediation process.  This took place in two sessions and an Agreement was reached on June 23, 2020 and legal documents were concluded at the end of July.Pursuant to the Agreement, HHE agreed to dismiss all claims against Marksmen including its claim for approximately $190,800 USD. Marksmen will make appropriate accounting adjustments to remove these liabilities from its financial statements.Marksmen agreed as part of the Agreement to assign to HHE its 60% working interest in the well and associated lands in the Area of Mutual Interest (“AMI”).  In exchange HHE grants Marksmen, effective January 1, 2020, a 5% overriding royalty interest related only to its 60% working interest, in the revenues from the Leaman 1 well and any wells drilled in the future on the lands in the AMI.  This provides Marksmen a revenue stream and protects it from high operating costs and any additional capital expenditures.   As part of the Agreement and to fully settle all of Marksmen’s claims, HHE agreed to pay  Marksmen $60,000 USD on or before July 31, 2020 (these funds have been received by Marksmen) and a further payment of $20,000 USD on or before August 31, 2020 (the “Second Payment”). HHE may in its discretion defer the Second Payment until September 30, 2020. However, if the Second Payment is not made on or before August 31, 2020, the amount due by September 30, 2020 will be $30,000.HHE also agrees to indemnify and hold Marksmen harmless in any claims from third parties related to the Leaman 1 well.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.This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Second Payment. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties.  There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information.  A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen’s disclosure documents on the SEDAR website at www.sedar.com.  Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.