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Tuesday, December 12, 2017 6:55:17 PM
THEY Are doing a private PLACEMENT -for all current shareholders to raise the 400k capital needed for the additional 20% ownership.
Marksmen intends to use $400,000 of the net proceeds of the Offering to pay for capital expenditures related to the recently announced increase in the Company’s working interest in the Clinton Sandstone formation horizontal drilling program in Hocking County, Ohio from 40% to 60%, assuming the maximum proceeds under the Offering. The first well is scheduled to begin drilling on the Leaman #1 location later this month. If the net proceeds are greater than $400,000, the additional proceeds, up to $50,000, will be used for acquisition of oil and gas leases complimentary to lands already in the program and for additional geological and engineering support.
The Offering is being offered to all of the existing shareholders of Marksmen who are permitted to subscribe pursuant to the Existing Shareholder Exemption. This offer is open until December 22, 2017 or such other date or dates as the Company determines and one or more closings are expected to occur, with the first closing anticipated for December 22, 2017. Any existing shareholders interested in participating in the Offering should contact the Company pursuant to the contact information set forth below.
https://globenewswire.com/news-release/2017/12/12/1253449/0/en/Marksmen-Announces-Proposed-Private-Placement.html
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