Marksmen Announces Second Closing of Private Placement and Early Warning Report - Seite 2

Early Warning Report

In connection with the second closing of the Offering, the Company issued 2,000,000 Units to Hans Koch, for total consideration of $100,000. 

As of March 20, 2020, Mr. Koch had control of 10,120,094 Common Shares representing 8.64% of the issued and outstanding Common Shares and 5,416,947 Warrants. Assuming the exercise of the Warrants, Mr. Koch would have control or direction over 15,537,041 Common Shares, representing 12.68% of the issued and outstanding Common Shares as of March 20, 2020.

Immediately after the second closing of the Offering, Mr. Koch had control of 12,120,094 Common Shares representing 9.81% of the issued and outstanding Common Shares and 7,416,947 Warrants. Assuming the exercise of the Warrants, Mr. Koch would have control or direction over 19,537,041 Common Shares, representing 14.92% of the issued and outstanding Common Shares.

Mr. Koch's acquisition of the Units was made for investment purposes and Mr. Koch intends to increase or decrease his holdings in the Company depending on market conditions and as circumstances warrant. 

A report respecting this acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Company's profile at www.sedar.com.

For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at [phone] or e-mail [e-mail].  

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 and the Company's intention to complete a third and final closing. 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.