An anonymous director reports

MARKSMEN ANNOUNCES OPERATIONAL UPDATE, DTC ELIGIBILITY IN THE UNITED STATES AND TRADING OF SHARES ON THE OTCQB VENTURE MARKETPLACE

Marksmen Energy Inc. has provided the following update.

Completion of a well in Pickaway county, Ohio

Marksmen is excited to begin the completion of an upper oil zone at its HD2 well in Pickaway county, Ohio. This formation, first discovered over 125 years ago, has been the most prolific oil-producing formation in central and western Ohio, and extends into Michigan, Illinois and Ontario.

When the HD2 well was drilled, this upper zone flowed back oil into the containment tanks at high pressures. The well was brought under control with heavyweight brine, and the zone was then cased and cemented, pending further evaluation. Technical reviews are now finished, and completion work is scheduled to start some time in the week beginning Sept. 18, 2023, depending on service company availability. The overall program should take three to four days.

Depository Trust Company (DTC)

Marksmen's shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company. DTC eligibility is expected to simplify the process of trading and enhance liquidity of Marksmen's shares in the United States.

DTC is a subsidiary of the Depository Trust & Clearing Corp., a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be DTC eligible. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.

OTC markets

Marksmen also announces that it is in the final stages of completing the process to upgrade from OTC Pink to OTCQB Venture Market, ticker symbol MKSEF. Archie Nesbitt, chief executive officer of Marksmen, said: "This will allow investors yet another avenue for trading Marksmen's shares, and the company looks forward to increasing the awareness around our company for U.S. investors. We believe that trading on the OTCQB can lead to overall enhanced liquidity and visibility in global capital markets."

The OTCQB is a leading market for early-stage and developing U.S. and international companies. Recognized as an established public market by the U.S. Securities and Exchange Commission, the OTCQB has helped companies build considerable shareholder value including enhanced liquidity and valuation. Investors may benefit from efficient trading through their preferred broker or financial adviser, transparent pricing with real-time quotes, and trusted disclosure that is made broadly available to broker-dealers and market data providers. The company's common shares will continue to trade on the TSX Venture Exchange under the symbol MAH.

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