Marksmen Energy Secures Key Agreement on Debenture Extension

Author: Evelyn Baker Updated: 01-30-2025 05:15 PM

Marksmen Energy's Debenture Extension Announcement

CALGARY, ALBERTA -- Marksmen Energy Inc. (“Marksmen” or the “Company”) is excited to share significant news regarding its financial deployment strategies. The Company has effectively entered into a new agreement with Conex Services Inc. ("Conex"), the current holder of its non-convertible secured debenture ("Debenture"). This comes as an extension of previous discussions that date back to the end of the past year. The Debenture's expiry date has now been pushed back by two years, with the new maturity set for December 31, 2026. Alongside this, a bonus warrants provision previously allocated to Conex has also been removed.

Insights on Related Party Transactions

It’s crucial to note that the recent extension of the Debenture falls under the category of related party transactions due to Conex being wholly owned by Glenn Walsh, an insider at Marksmen. According to the Multilateral Instrument 61-101 ("MI 61-101"), these transactions must meet certain disclosure requirements. However, since the Debenture cannot be converted into shares and no additional bonus warrants have been awarded, this decision does not alter the voting interests of current related parties.

Approval Process and Market Implications

Unanimously approved by Marksmen’s board of directors, the agreement to extend this financial instrument was rationalized as beneficial for the Company's ongoing operations. Importantly, the extension does not require traditional minority shareholder validation or formal valuations as per MI 61-101’s guidelines, given that Marksmen is not listed on a specified market and there are no new equity or loan components associated with this extension.

Leadership Contact Information

For further inquiries regarding this announcement, interested parties can reach out to Archie Nesbitt, Director and CEO of Marksmen, via phone at (403) 265-7270 or through email at ajnesbitt@marksmenenergy.com.

Frequently Asked Questions

What is the recent development regarding Marksmen's debenture?

Marksmen Energy has extended the expiry of its debenture by two years to December 31, 2026, and has removed bonus warrants provision related to it.

Who is Conex Services Inc.?

Conex Services Inc. is the holder of Marksmen's debenture and is owned by Glenn Walsh, an insider of the Company.

What does the related party transaction involve?

The extension is considered a related party transaction because it involves an insider, but ensures no new voting interests are created due to the non-convertibility of the debenture.

Did the company seek minority shareholder approval for this transaction?

No, the transaction is exempt from formal valuation and minority shareholder approval requirements.

How can I contact Marksmen's management for further inquiries?

You can contact Archie Nesbitt, the CEO of Marksmen, at (403) 265-7270 or via email at ajnesbitt@marksmenenergy.com.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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