CALGARY, ALBERTA, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (the "Corporation" or "Marksmen") (TSXV: MAH) announces that it plans to seek shareholder approval for a consolidation (the "Consolidation") of its common shares (the "Common Shares") on the basis of one (1) post-consolidation Common Share for up to every forty (40) pre-consolidation Common Shares, with the final Consolidation ratio to be determined by the board of directors of the Corporation (the "Board"), subject to regulatory approval.
The Corporation currently has 211,398,380 Common Shares issued and outstanding. Assuming the Consolidation is completed on a 40 for 1 basis, it is expected that the Corporation will have approximately 5,284,960 Common Shares issued and outstanding. The Corporation wishes to reduce the outstanding Common Share amounts to keep in line with other listed issuers on the TSX Venture Exchange. The Corporation believes that, if implemented, the Consolidation will promote increased liquidity and reduced volatility in the trading of the Common Shares.
The Consolidation will be proposed to the shareholders of the Corporation at the annual general and special meeting of shareholders being held on Wednesday, February 25, 2026. The Board believes it is in the best interests of the Corporation to pursue the Consolidation. The Board also believes the change in price per Common Share as a result of the Consolidation will be more attractive to future investors. The Corporation's name and trading symbol will not be changed in conjunction with the Consolidation.
Further details regarding the Consolidation are described in the Corporation's management information circular dated January 14, 2026 which will be available on www.sedarplus.ca today.
For further information, please contact:
Marksmen Energy Inc.
Archie Nesbitt - CEO and Director
Phone: (403) 265-7270
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Information Cautionary Statement
Certain statements contained in this news release constitute forward-looking information. These statements include the proposed Consolidation ratio, obtaining necessary approvals from the TSX Venture Exchange with respect to the Consolidation, shareholder approval of the Consolidation and the effect of the Consolidation on the liquidity and volatility of the trading of the Common Shares. The use of any of the words "will", "expected", "view" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statement made in this news release are made as of the date hereof. The Corporation disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
