401 – 1113 Jade Court
MARKSMEN CAPITAL INC.
401 – 1113 Jade Court Thunder Bay, Ontario P7B 6M7
MARKSMEN CAPITAL INC. ANNOUNCES TERMINATION OF PROPOSED QUALIFYING TRANSACTION
Thunder Bay, July 29, 2010 – Marksmen Capital Inc. (“Marksmen”) (TSX-V: MKS.P) today announced that it will not proceed with its proposed qualifying transaction with Exploration Syndicate, Inc. (“ESI”), a private Delaware company, whereby it had proposed to acquire all of the issued and outstanding securities of ESI, as previously announced on June 30, 2010.
Marksmen will continue to identify and evaluate companies, businesses or assets with a view to completing its qualifying transaction on a timely basis in accordance with the policies of the TSX Venture Exchange (the “Exchange”).
About Marksmen
Marksmen is a capital pool company (“CPC”) within the meaning of the policies of the Exchange. It has not commenced operations and has no assets other than cash. Marksmen proposes to identify and evaluate businesses and assets with a view to completing a qualifying transaction under Exchange Policy 2.4.
MARKSMEN CAPITAL INC.
Dan Mechis Chief Executive Officer and Director Telephone: (807) 766-3401
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 release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Marksmen’s proposed qualifying transaction. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Marksmen will obtain from them.
CW3596470.1