MARKSMEN ANNOUNCES PROPOSED PRIVATE PLACEMENT

CALGARY, ALBERTA, July 12, 2023 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSXV: MAH) is pleased to announce that it plans to complete a non-brokered private placement of up to 7,000,000 units (the “Units”) of Marksmen at a price of $0.05 per Unit for aggregate gross proceeds of up to a maximum of $350,000 (the “Offering”). There is no minimum Offering. The Units will be 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 for $0.10 expiring two (2) years from the date of the closing of the Offering. The Warrants will include an acceleration provision whereby if the Company's Common Shares trade at a price greater than $0.15 for a period of 20 trading days, Marksmen may accelerate the expiry of the Warrants.

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