MARKSMEN ANNOUNCES CLOSING OF EXTENSION OF DEBENTURE

CALGARY, ALBERTA, Dec. 29, 2022 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) is pleased to announce that it has closed the extension with the holder (the “Holder”) of its non-convertible secured debenture (“Debenture”) so that the Debenture now expires on December 31, 2024. In connection with the extension, the Company has granted an additional 1,500,000 warrants to the Holder to acquire 1,500,000 common shares of the Company for an exercise price of $0.13 per share expiring December 31, 2024. All other terms of the Debenture remain the same. The closing is subject to the approval of the TSX Venture Exchange.

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