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Press Release: Marksmen Announces Final Closing of Private Placement


CALGARY, Alberta, Dec. 13, 2019 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (TSXV: MAH) (OTCQB: MKSEF) (“Marksmen” or the “Company”) announces that it has completed the second and final closing of its previously announced non-brokered private placement of units (the “Units”) of Marksmen (the “Offering”). The Company issued 484,000 Units at a price of $0.05 per Unit for aggregate gross proceeds of $24,200, bringing the aggregate total under the Offering to 4,494,000 Units, for gross proceeds of $224,700. 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 $0.10 per share expiring two (2) years from the date of issuance.

Pursuant to this closing, Marksmen paid a cash commission to a qualified non-related party of $200 and issued 4,000 broker warrants entitling the holder to acquire one Common Share at a price of $0.05 per share for a period of one (1) year from the date of issuance.

Marksmen intends to use the net proceeds from this closing of the Offering of $24,000 as working capital to support light oil exploration activities in Ohio.

Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSXV. The securities issued are subject to a four month hold period from the date of issuance.

Related Party Participation in the Private Placement

Insiders subscribed for an aggregate of 334,000 Units in the second closing of the Offering for a total of 69% of the second closing. As insiders of Marksmen participated in this 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 closing of the Offering and the Company wished to close on an expedited basis for business reasons.

Update on Complaint on Contract

Further to Marksmen's news release of November 28, 2019, Marksmen has now filed an Answer and Counterclaim in response to a Complaint on Contract filed by an operator of a well in Ohio with respect to a business dispute between the operator and Marksmen relating to amounts owing pursuant to the operation of the 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 This email address is being protected from spambots. You need JavaScript enabled to view it..

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 and 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.

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Press Release: Ziyen Energy Announces the Acquisition of Non-Producing Minerals in Saxet Field, Nueces County, Texas in Exchange for 930,000 ZiyenCoins


SAN DIEGO, Dec. 13, 2019 (GLOBE NEWSWIRE) -- Ziyen Energy has announced they have acquired the minerals at the Douglas Prospect, Saxet Field in Nueces County, Texas in exchange for 930,000 ZiyenCoins.

The Douglas Prospect, covers 83.19 gross acres, 15.6 mineral acres, and includes a recently drilled shut in oil well.  The Douglas Prospect is in the Saxet Oil Field which has produced over 100,000,000 barrels of oil from approximately 40 separate reservoirs. The field was developed in the late 1930’s producing an approximate 17,000 barrels of oil per day.

Alastair Caithness, CEO, stated

“This is our third transaction in ZiyenCoin, and the first acquisition in owning the mineral rights.  This will provide Ziyen Energy with a long-term asset for the company, as unlike leasing the property the company now owns the minerals indefinitely in a Texas oil field which has produced over 100 million barrels of oil.  As we make every new transaction in ZiyenCoin we are starting to set a precedence on the pricing of each oil asset with our digital energy token.”

Learn more about Ziyen Inc. and ZiyenCoin by reading our 2019 Ziyen Inc. Corporate Overview.

If you would like a copy of ZiyenCoin’s Security Token Offering (STO), then please email This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.ziyen.com for more information.

About Ziyen Energy:

Ziyen Energy. is a technology-driven energy company incorporated in the State of Wyoming, U.S.A. in April 2016. Originally formed as a software company providing information on the oil, gas, power and energy sectors, Ziyen specializes on business information, contracts, news and information by developing cutting edge procurement and supply chain software to provide clients with intelligence on industry specific government and private contracts. In addition, Ziyen Energy currently owns interests in oil assets based in Texas and the Illinois Basin, which covers Illinois, Indiana and Kentucky. The equity of Ziyen Energy has been tokenized and issued as ZiyenCoin which is offered for sale as a Security Token pursuant to SEC Rule 506(c) of Regulation D.

For more information visit www.ziyen.com

Forward Looking Statements:

Certain statements in this press release including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing, performance goals, and statements that otherwise relate to future periods are forward-looking statements. These statements involve risks and uncertainties, which are described in more detail in reports filed with the SEC. Forward-looking statements are made and based on information available to the company on the date of this press release. Ziyen Inc. assumes no obligation to update the information in this press release.

Contact:

Alastair Caithness

Media Relations

This email address is being protected from spambots. You need JavaScript enabled to view it.

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