Press Releases:
MCW Energy Group Announces Convertible Note Financing, Details Of Agreement To Acquire Second Property In Utah, And Management Share Compensation Issuance
Nov 5th 2014:Convertible Note Financing
MCW has issued today a convertible secured note (the “Notes”) to an institutional arm’s length lender (the “Lender”) for an aggregate principal amount of US$555,556 in accordance with the terms of a securities purchase agreement (the “Agreement”) pursuant to which the Lender has agreed to loan up to US$1,111,112. The Note bears interest at a rate of 5% per annum, is payable quarterly and matures on May 5, 2016. At the option of the Lender, principal under the Note is convertible into units (the “Units”) of MCW at a conversion price of CDN$0.90 per Unit. Each Unit would consist of one common share in the capital of MCW (a “Common Share”) and one common share purchase warrant (a “Warrant”) of MCW. Each Warrant would entitle the Lender to acquire one Common Share at an exercise price of CDN$0.945 per Common Share until November 5, 2019. MCW has granted a security interest to the holder under a general security agreement covering all of the assets of MCW. All securities issued pursuant to the financing will be subject to a four-month hold period. The proceeds will be used by MCW on capital expenditures on its oil sands plant facility in Asphalt Ridge, Utah, as well as for working capital. The financing is subject to final approval of the TSX Venture Exchange (the “Exchange”).... read more
MCW Energy Group Announces Non-Brokered Private Placement and Shares for Debt Transaction
Oct 21st 2014:MCW Energy Group Limited ("MCW") (TSX VENTURE:MCW) (OTCQX:MCWEF), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces that it has completed a non-brokered private placement financing by issuing 106,847 common shares at a price of $0.84 per share. All common shares issued pursuant to the financing are subject to a four month statutory hold period as well as a US restrictive legend. The financing closed on October 21, 2014, subject to final approval of the TSX Venture Exchange. The net proceeds will be used by MCW for general corporate purposes and working capital.... read more
MCW Energy Announces Debenture Financing
Oct 14th 2014:MCW Energy Group Limited (TSX VENTURE:MCW)(OTCQX:MCWEF) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces the issuance of two secured debentures (the "Debentures") for an aggregate principal amount of $1,100,000 to two private lenders. The Debentures provide that the principal amount of the Debentures will bear interest at a rate of 12% per annum, payable monthly and will mature on October 15, 2017. The Debentures are secured by all of the assets of MCW. The proceeds will be used by MCW on capital expenditures on its oil sands plant facility in Asphalt Ridge, Utah, as well as for working capital. In addition, MCW also issued the Lenders common share purchase warrants exercisable for an aggregate of 500,000 common shares of MCW at $1.00 per share until October 10, 2017. All securities issued pursuant to the financing will be subject to a four-month hold period.... read more
MCW Energy Group’s Initial Oil Sands Extraction Plant Now Poised For Production. Chairman Announces Phase #2 Expansion Plan Including 5,000 Barrel/day (est.) Plant In Ashpalt Ridge, Utah.
Oct 9th 2014:Toronto, Ontario, Canada – October 9th, 2014 – MCW Energy Group Limited (“MCW”) TSX-V: MCW, OTCQX: MCWEF, a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology today disclosed further details on its Phase #2 Expansion Plan for further development and increased oil sands extraction capacities in Asphalt Ridge, Utah.... read more
MCW Energy Group Announces Shares for Debt Transactions
Oct 3rd 2014:TORONTO, ONTARIO--(Marketwired - Oct. 3, 2014) - MCW Energy Group Limited ("MCW") (TSX VENTURE:MCW)(OTCQX:MCWEF), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces that it has entered into three agreements with arms-length service providers, pursuant to which MCW will issue an aggregate of 213,503 common shares in satisfaction of indebtedness of US$216,157.52 currently owed to such service providers.... read more
MCW Energy Group To Unveil Its Proprietary Oil Sands Extraction Technology In Vernal, Utah On Wednesday, October 1st, 2014
Sep 24th 2014:Toronto, Ontario, Canada – September 24th, 2014 – MCW Energy Group (TSX-V: MCW), OTCQX: MCWEF,(“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology announced today that it will be unveiling its proprietary, oil sands extraction technology near Vernal, Utah on Wednesday, October 1st, 2014 at 1:00 PM Mountain Time.... read more
MCW Energy Group Grants Incentive Stock Options
Aug 18th 2014:Toronto, Ontario, Canada – August 18, 2014 – MCW Energy Group Limited (“MCW”) (TSXV: MCW; OTCQX: MCWEF), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces today that its board of directors has approved the grant of 400,000 stock options to Bill G. Calsbeck, a recently appointed director of MCW, at an exercise price of $1.10 per common share expiring on August 15, 2019. MCW currently has 46,448,614 issued and outstanding common shares and pursuant to its fixed number option plan can grant up to 8,399,315 stock options. Including the grant announced today, MCW currently has 2,883,426 stock options outstanding. The options and underlying common shares will be subject to a four month hold period from the date of issuance of the option.... read more
MCW Energy Group Issues Bonus Shares And Additional Drawdown Of Debenture
Jul 30th 2014:Toronto, Ontario, Canada – July 30, 2014 – MCW Energy Group Limited (“MCW”) (TSXV: MCW; OTCQX: MCWEF), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces that it has agreed to issue each of Dalex Investments, Inc. and Dalex Holding, Inc., private California company’s wholly owned and controlled by Alex Blyumkin, an officer and director of the Corporation, 469,962 common shares in consideration for providing collateral to secure fuel advances of up to US$2,100,000 made by Phillips 66 Company to MCW Fuels, Inc., a wholly owned subsidiary of MCW. The common shares issued will be subject to a US restrictive legend as well as a four month statutory and TSX Venture Exchange (the “Exchange”) hold period from the date of issuance. The issuance is subject to final approval of the Exchange.... read more
MCW Energy Group Announces Management Change And Not Proceeding With Acquisition Of Geopetro Resources Company
Jul 2nd 2014:Toronto, Ontario, Canada – July 2, 2014 – MCW Energy Group Limited (TSXV: MCW; OTCQX: MCWEF) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces the appointment of Mark Korb as Chief Financial Officer to replace Karlo Vartan who has resigned to focus on other business opportunities.... read more
MCW Energy Announces Issuance of Convertible Debenture for Up to US$2 Million
Jun 25th 2014:TORONTO, ONTARIO--(Marketwired - June 25, 2014) - MCW Energy Group Limited (TSX VENTURE:MCW) (MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces the issuance of a secured convertible debenture (the "Debenture") for up to a maximum aggregate principal amount of US$2,000,000 to Alex Blyumkin, an officer and director of MCW. The Debenture provides that an initial drawdown in the amount of US$1,139,000 will be advanced by Mr. Blyumkin to MCW upon the execution and delivery of the Debenture, with any subsequent drawdowns to be advanced to MCW at the option of Mr. Blyumkin, upon request by MCW. The principal amount of the Debenture outstanding from time to time will bear interest at a rate of 10% per annum, payable on maturity (June 25, 2017). At the option of Mr. Blyumkin, the principal amount of the Debenture then outstanding from time to time may be converted into common shares of MCW at any time until maturity. The conversion price will be equal to either: (i) beginning on the date that the Debenture is issued until August 11, 2014, $1.00 per common share of MCW; or (ii) beginning on August 12, 2014, the rate equal to the minimum price of the common shares of MCW permitted by the TSX Venture Exchange (the "Exchange"); each adjusted, as necessary, upon a Share Reorganization (as such term is defined in the Debenture) in accordance with the provisions of the Debenture. The Debenture is secured by all of the assets of MCW and its wholly owned subsidiary, MCW Fuels, Inc. The proceeds will be used by MCW to complete the construction of its oil sands plant facility in Asphalt Ridge, Utah as well as for working capital. All securities issued pursuant to the financing will be subject to applicable U.S. securities laws as well as Canadian securities laws and a four-month hold period as required by the Exchange. The financing is subject to final approval of the Exchange.... read more
MCW Energy Group Announces Management Changes
May 26th 2014:TORONTO, ONTARIO, May 26, 2014 (Marketwired via COMTEX) -- MCW Energy Group Limited (TSX VENTURE: MCW)(OTCQX: MCWEF) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, is pleased to announce that Bill G. Calsbeck and Igor Sosnovskiy have joined the board of directors of MCW to replace Sergey Grechishkin, Ronald Fisher and David Sutton (who also resigned as President) who have resigned to focus on other business responsibilities. Mr. Sutton remains a director and the President of MCW Fuels, Inc.... read more
GeoPetro Resources Company and MCW Energy Group Limited Mutually Terminate Merger Agreement [Issued by Geo-Petro Resources.]
May 15th 2014:SAN FRANCISCO, May 15, May 15, 2014 (GLOBE NEWSWIRE via COMTEX) -- GeoPetro Resources Company (OTCQB:GEOR) ("GeoPetro" or the "Company") today announced that on May 14, 2014, the Agreement and Plan of Merger, as amended, (the "Merger Agreement") entered into on February 28, 2013, between GeoPetro Resources Company, MCW Energy Group Limited ("Parent"), and MCW CA SUB, a wholly-owned subsidiary of Parent ("Merger Sub"), was terminated.... read more
MCW Energy Group Receives Approval For Commencement Of Trading On The OTCQX Platform: Symbol: MCWEF
May 14th 2014:Toronto, Ontario, Canada – May 14th, 2014 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, is pleased to announce that it has received the necessary approvals to commence trading on the OTCQX platform, effectively immediately. The trading symbol will be: MCWEF.... read more
Merriman Capital Announces Sponsorship of MCW Energy Group, Ltd. on OTCQX
May 14th 2014:(Thomson Reuters ONE via COMTEX) --SAN FRANCISCO - May 15, 2014 - Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR), announced today that it will serve as the Principal American Liaison ("PAL") for MCW Energy Group, Ltd. (OTCQX: MCWEF) ("the Company") as it begins trading on OTCQX®, which is the OTC market's highest trading tier.... read more
MCW Energy Group Begins Trading on OTCQX®
May 13th 2014:NEW YORK – May 14, 2014 – OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that MCW Energy Group Ltd. (TSX-V: MCW; OTCQX: MCWEF), a distributor of gasoline and diesel fuels and a developer of proprietary oil sands technology, has been approved to trade on OTCQX®,the best marketplace with qualified companies.... read more
MCW Energy Group Announces Closing of Non-Brokered Private Placement and Shares for Debt Transaction
Apr 30th 2014:MCW Energy Group Limited (TSX VENTURE:MCW) (MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, is pleased to announce that it has completed a non-brokered private placement financing by issuing 457,948 common shares at a price of $0.79 per share for gross proceeds of US$300,000. All shares issued pursuant to the financing are subject to a four-month hold period and restrictive US legend. The financing is subject to final approval of the TSX Venture Exchange. The net proceeds will be used by MCW for general corporate purposes and working capital. Following the closing of the financing, there are currently 42,711,725 common shares of MCW issued and outstanding.... read more
MCW Energy Announces Issuance Of Convertible Debenture
Apr 9th 2014:Toronto, Ontario, Canada – April 9, 2014 – MCW Energy Group Limited (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces the issuance of a US$824,000 principal amount secured convertible debenture (the “Debenture”) to Alex Blyumkin, an officer and director of MCW. The Debenture provides that the principal amount of the Debenture will bear interest at a rate of 10% per annum, payable on maturity (March 7, 2017). At the option of Mr. Blyumkin, the principal under the convertible Debenture may be converted into common shares of MCW at a conversion price of $0.90 at any time until maturity. The Debenture is secured by all of the assets of MCW and its wholly owned subsidiary, MCW Fuels, Inc. The proceeds will be used by MCW to complete the construction of its oil sands plant facility in Asphalt Ridge, Utah as well as for working capital. All securities issued pursuant to the financing will be subject to applicable U.S. securities laws as well as a Canadian securities laws and TSX Venture Exchange (the “Exchange”) four-month hold period. The financing is subject to final approval of the Exchange.... read more
MCW Energy Group Posts Year End Net Revenues Of US$431,932,384 For 2013, A 19% Increase In Fuel Distribution Sales
Jan 14th 2014:Toronto, Ontario, Canada – January 14, 2014 – MCW Energy Group Limited (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, has reported and filed its corporate financial statements for the year ending August 31st, 2013.
MCW ended its fiscal year end with net revenues of US$431,932,384 from its fuel distribution sales generated by its Fuels Division. This represents an increase of US$68.6 million or 19% over the same period of 2012 (2012 - US$363,300,000 and 2011 - US$241,500,000). The increase in sales was primarily due to an additional 20 million gallons of fuel during the fiscal year of 2013 to August 31st, 2013. Gross profit for this period represented 1.9% of net revenues (2012 gross profit stood at 1.8%), which has remained consistent and in line with fuel distribution industry averages. MCW believes that it will continue to improve its gross profits by increasing the number of branded service stations under its various comprehensive premier branding programs (76, Valero and Alliance), as well as several value-added programs such as rebranding, state-of-the-art accounting systems, credit card processing, inventory control systems and price management services.
Mr. Karlo Vartan, MBA, BSc., MCW’s Chief Financial Officer stated, “Sales increases year over year are primarily a result of an increased customer base in our Fuels Division, due to our continued aggressive marketing efforts, as well as the acquisition of new branded service station accounts. The increase in the net loss between 2011 and 2012 was most significantly due to a one-time charge to bad debt expense of approximately US$2.3 million to reflect old uncollectible accounts. MCW’s asset base has increased substantially during 2013 due to the construction of its initial oil sands extraction plant now underway in Asphalt Ridge, Utah. Assets have also increased throughout recent years via the acquisition of ownership of a gas station transferred from shareholders of MCW, acquisition of branded accounts from Westco Petroleum Distributors Inc., and the assignment of Valero-Branded Reseller Distribution Agreements from Ocean Pacific Fuels Inc. (acquisitions were reported in previous Press Releases). Due to the increase in MCW’s fuel distribution operations, MCW is able to acquire greater supplier rebates and more advantageous product pricing from refineries.”
MCW’s corporate filings and financial statements are available at SEDAR, website: www.sedar.com....
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MCW Energy Group Announces The Appointment Of Sami Dabbas As Chief Operating Officer
Jan 6th 2014:Toronto, Ontario, Canada – January 6, 2014 – MCW Energy Group Limited (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces the appointment of Sami Dabbas as Chief Operating Officer of MCW. Mr. Dabbas was formerly a senior executive at MCW’s Fuels Division.... read more
MCW Energy Group’s Oil Sands Extraction Plant In Asphalt Ridge, Utah Makes Significant Assembly Progress In Q4-2013, Now 60% Assembled
Dec 27th 2013:Toronto, Ontario, Canada – December 27th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced significant progress on the fabrication and assembly programs of its first oil sands extraction plant on its lease in the Asphalt Ridge Region of Utah, approximately 1.6 miles from Vernal.... read more
MCW Energy Group Announces Shareholder Approval of New Fixed Number Stock Option Plan
Nov 14th 2013:TORONTO, ONTARIO--(Marketwired - Nov. 14, 2013) - MCW Energy Group (TSX VENTURE:MCW) (MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announced today that its shareholders approved a new 20% fixed number stock option plan (the "2013 Option Plan").... read more
MCW Energy Group Enters Into Consulting Agreement and Issues Shares
Nov 14th 2013:TORONTO, ONTARIO--(Marketwired - Nov. 14, 2013) - MCW Energy Group (TSX VENTURE:MCW) (MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announced today that it has issued 100,000 common shares to two arm's length consultants pursuant to the terms of a consulting agreement wherein the consultants will initiate a public relations campaign on behalf of MCW in the State of Utah to assist MCW in the development and commercialization of its Extraction Facility in the Uinta Basin of Utah.... read more
MCW Energy Group Announces Shareholder Approval of New Fixed Number Stock Option Plan
Nov 14th 2013:TORONTO, ONTARIO--(Marketwired - Nov. 14, 2013) - MCW Energy Group (TSX VENTURE:MCW) (MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announced today that its shareholders approved a new 20% fixed number stock option plan (the "2013 Option Plan").... read more
MCW Energy Group Appoints New CFO and Acquires Valero Gas Station to Settle Note Payable
Sep 19th 2013:TORONTO, ONTARIO--(Marketwired - Sept. 19, 2013) - MCW Energy Group (TSX VENTURE:MCW) (MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced the appointment of Karlo Vartan, as Chief Financial Officer of the MCW Energy Group. to replace Richard S. Rawdin who has resigned to focus on other opportunities.... read more
Engineering Team Arriving On Site To Commence Assembly Of MCW Energy Group’s Initial Oil Sands Extraction Plant In Asphalt Ridge, Utah
Sep 9th 2013:Toronto, Ontario, Canada – September 9th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced the imminent arrival of its engineering team to commence the assembly of its first extraction unit on MCW’s lease location in Asphalt Ridge, Utah.... read more
MCW Energy Group Marks Extraction Plant Progress As It Readies For Oil Sands Extraction Technology Testing Program In Asphalt Ridge, Utah
Aug 27th 2013:Toronto, Ontario, Canada – August 27th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced progress of its ongoing fabrication and assembly programs of its first extraction unit which will be tested for commercial production viability on MCW’s lease in Asphalt Ridge, Utah.... read more
Rating Agency Assigns Favourable “BB” Credit Rating To MCW Fuels Inc., A Division Of MCW Energy Group Of California, USA
Aug 19th 2013:Toronto, Ontario, Canada – August 19th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced that an independent rating agency member of Universal Rating Agency, has assigned a credit rating of “BB” (a favourable rating) to MCW Fuels Inc. According to the agency, the assigned rating is based upon the presence of a qualified and experienced management team, a moderate current debt burden and the substantial market value of assets controlled by the parent company, MCW Energy Group.... read more
MCW Energy Group to Refile 2012 Q4, 2013 Q1 and 2013 Q2 Financial Statements and MD&A;
Aug 1st 2013:TORONTO, ONTARIO--(Marketwired - Aug. 1, 2013) - MCW Energy Group (TSX VENTURE:MCW) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announced today that it will be refiling certain previously filed financial statements and management discussion and analysis ("MD&A").... read more
MCW Energy Group Appoints Sergey Grechishkin, Equity Funds & Capital Markets Expert to Its Board of Directors
Jul 17th 2013:TORONTO, ONTARIO--(Marketwired - July 17, 2013) - MCW Energy Group Limited (TSX VENTURE:MCW) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands recovery technology, is pleased to announce that Sergey Grechishkin, Chairman of the Investment Committee of Redline Capital Management S.A., has joined its board of directors to replace Martin J. Doane who has resigned to focus on his other business responsibilities.... read more
MCW Energy Group Announces Adoption of New Stock Option Plan and Grant of Incentive Stock Options to New CFO
Jul 12th 2013:TORONTO, ONTARIO--(Marketwired - July 12, 2013) - MCW Energy Group (TSX VENTURE:MCW) (MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announced today that its board of directors has approved a new 20% fixed number stock option plan. Pursuant to the new option plan MCW can grant up to 8,244,455 stock options. MCW will seek shareholder approval for the new option plan at its next annual shareholders meeting. Any options granted after the date hereof and prior to shareholder approval will also be subject to, and will not be exercisable until, shareholder approval.... read more
Redline Capital Management, S.A. Acquires 20.9% of MCW Energy Group’s Outstanding Shares. July 3rd, 2013
Jul 3rd 2013:Luxembourg, 3 July 2013 – Redline Capital Management S.A., acting for the account of
Redline Capital Fund – Universal Investments, a sub-fund of Redline Capital Fund, FCP-FIS
(“Redline”), with its registered office at 26 Avenue Monterey, L-2163 Luxembourg, announced
today that it has acquired ownership of 8,695,652 common shares of MCW Energy Group
Limited (“MCW”) at a price of CAD 0.73 per share....
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MCW Energy Group Completes Shares For Debt Transactions
Jun 27th 2013:Toronto, Ontario, Canada – June 27, 2013 – MCW Energy Group (TSX‐V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces that, further to its press release dated May 8, 2013, the lender assigned the debt to two arm’s length parties who have entered into agreements with MCW for the issuance of an aggregate of 5,724,500 common shares in satisfaction of indebtedness of US$3,434,700. The common shares issued are subject to a four month statutory hold period from the date of issuance. Following completion of the share issuances MCW has a total of 41,222,278 common shares issued and outstanding.... read more
CUSIP Number Assigned To MCW Energy Group’s Series A Bond Issue For Up To $30 Million For Funding Of Utah Oil Sands Project
Jun 26th 2013:Toronto, Ontario, Canada – June 26th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced that a CUSIP number has been assigned to placement agent’s Revere Securities Corporation’s non-listed, non-convertible, unsecured Series A Bonds for MCW’s $ 30 million funding. The CUSIP number is: 5527DAA7. (SIN # CA55279DAA78). ... read more
MCW Energy Group Extracts Up To 99.9% Of Hydrocarbon Content From Alberta Oil Sands Tailings Pond Samples During Preliminary Lab Tests
Jun 4th 2013:Toronto, Ontario, Canada – June 4th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced successful results of processing random Alberta oil sands tailings ponds samples in a series of preliminary laboratory tests.... read more
MCW Energy Group Announces Appointment Of Richard S. Rawdin, CPA, As Chief Financial Officer
May 21st 2013:Toronto, Ontario, Canada – May 21, 2013 – MCW Energy Group (TSX‐V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, todayannounced the appointment of Richard S. Rawdin, CPA, as Chief Financial Officer of the MCW Energy Group. Mr. Rawdin will take over the position serving both divisions of MCW, MCW Fuels and MCW Oil Sands Recovery, LLC. during the month of June, 2013. He was formerly the Chief Financial Officer of Dalbo Holdings Inc., a Utahbased company providing services in the oil and gas industry, where he managed the Accounting/Financial Departments of Dalbo and its subsidiaries. He was a key member of Dalbo’s management team which developed and implemented MCW’s overall corporate strategies. He has an impressive track record of success in all facets of
management, accounting, finance, operations and organic EBITDA growth. Mr. Rawdin has focused on strategic planning, business development, financial modelling, custom operating metrics design, corporate finance, mergers and acquisitions. He has been involved in debt financings and restructurings totalling over $1 billion. Mr. Rawdin has a BS Degree in Accounting/Business from the University of Utah....
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MCW Energy Group Enters Into Shares For Debt Transaction
May 8th 2013:Toronto, Ontario, Canada – May 8th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology announces that it has entered into an agreement with an arms-length lender, pursuant to which MCW will issue 6,095,215 common shares in satisfaction of indebtedness of $ USD 3,657,129 currently owed to such lender in principal plus interest pursuant to a previously issued convertible debenture based on an agreed issue price of $ 0.60 per share. MCW determined to satisfy the indebtedness with common shares in order to preserve its cash for use on the construction of its extraction technology project in the Uinta Basin of Utah, USA.... read more
MCW Energy Group Appoints Revere Securities As Placement Agent For Funding Of Utah Oil Sands Project With Up To $ 30 Million Series A Bond Issue
May 8th 2013:Not For Dissemination in the United States or For Distribution to U.S. Newswire Services And Does Not Constitute An Offer Of The Securities Described Herein:
Toronto, Ontario, Canada – May 8th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced that New York-based Revere Securities Corporation has been appointed as placement agent for MCW’s proposed $ 30 million Series A Bond issue. The proposed funding will consist of non-listed, non-convertible, unsecured Series A Bods.... read more
MCW Energy Group Licenses Extraction Technology In Canada
Mar 27th 2013:TORONTO, ONTARIO--(Marketwire - March 27, 2013) - MCW Energy Group Limited (TSX VENTURE:MCW) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands recovery technology, is pleased to announce that it has entered into a intellectual property license agreement with a private arm's length Canadian company which has agreed to act as the sole and exclusive licensee of MCW's extraction technology within the countries of Canada and the Republic of Trinidad and Tobago.... read more
MCW Energy To Acquire GeoPetro Resources Company
Mar 1st 2013:2013-03-01 11:17 ET - Original News Release... read more
MCW Energy Group’s Proprietary Oil Sands Extraction Technology Featured In February Issue Of International Resource Journal
Jan 31st 2013:Toronto, Ontario, Canada – January 31st 2013 – MCW Energy Group Limited, (“MCW”) (TSX-V: MCW) (MCW.V), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced that a corporate profile story on MCW is currently appearing in the February 2013 issue of the International Resource Journal (IRJ), a major electronic resource publication distributed online to top executives worldwide.... read more
MCW Energy Group Retains Additional Market Maker
Jan 16th 2013:Toronto, Ontario, Canada – January 16, 2013 – MCW Energy Group Limited (TSX-V: MCW) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands recovery technology, is pleased to announce that it has retained Venture Liquidity Providers Inc. ("VLP") to provide market-making services in accordance with TSX Venture Exchange ("TSXV") policies. VLP will trade shares of MCW on the TSXV for the purposes of maintaining an orderly market and improving the liquidity of MCW's shares.... read more
MCW Energy Group Announces 2012 Net Revenue Of $363,325,177 From Its MCW Fuels Division, Representing A 52% Increase In Net Fuel Sales Revenues From 2011
Jan 15th 2013:Toronto, Ontario, Canada – January 15th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced highlights of its Consolidated Statements of Loss and Comprehensive Loss for the period ending August 31st, 2012, which included an increase in net revenue from its fuel sales division, MCW Fuels. Net revenue for 2012 increased to $ 363,325,177 USD which indicates a substantial increase from the year 2011, which totalled $ 241,540,372 USD.... read more
MCW Energy Group Implements Regional Supplier Program For Its Oil Sands Extraction Unit Systems & Components At Asphalt Ridge, Utah
Jan 9th 2013:Vancouver, British Columbia, Canada – January 9th, 2013 – MCW Energy Group (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today provided details on its local supplier appointment program for the final fabrication stages of its oil sands extraction project in Asphalt Ridge, Utah. Several suppliers in the Vernal and Uinta Basin areas were identified early in 2012 and were invited to provide bids for the various stages of systems required for its initial plant fabrication.... read more
MCW Energy Group’s CEO, Dr. R.G. Bailey Featured In Keynote Radio Interview With “The Stock Radio,” And Discusses Progress Of Its Oil Sands Extraction Program At Asphalt Ridge, Utah
Dec 21st 2012:Vancouver, British Columbia, Canada – December 21st, 2012 – MCW Energy Group, (TSX-V: MCW) (MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of a proprietary oil sands extraction technology, today announced the posting of a recent interview with CEO Dr. R.G. Bailey on “TheStockRadio,” a popular online investment commentary provider.... read more
MCW Enterprises Receives Final Shipment Of Its Oil Sands Extraction Unit Components And Readies For Its Assembly In December At Asphalt Ridge, Utah
Dec 11th 2012:Vancouver, British Columbia, Canada – December 11th, 2012 – MCW Enterprises Ltd. (TSX-V: MCW)(MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced that it has received notice that the third and last container of its pilot plant components has been received and is being shipped via truck to its Asphalt Ridge, Utah lease site.... read more
MCW Enterprises Enters Final Phases Of Site Preparation For Its Initial Oil Sands Extraction Plant Assembly In December At Asphalt Ridge, Utah
Nov 26th 2012:Vancouver, British Columbia, Canada – November 26, 2012 – MCW Enterprises Ltd. (TSX-V: MCW)(MCW.V) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced that it has entered the final stages of its site preparation in readiness for the scheduled assembly of its initial oil sands extraction plant project in Asphalt Ridge, Utah. ... read more
MCW Enterprises Enters Into Shares for Debt Transaction and Agreement to Issue Bonus Shares
Nov 26th 2012:VANCOUVER, BRITISH COLUMBIA, Nov 26, 2012 (Menafn - Marketwire via COMTEX) --MCW Enterprises Ltd. ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands recovery technology, announces that it has entered into an agreement with an arms-length lender, pursuant to which MCW will issue 940,963 common shares in satisfaction of indebtedness of 781,000 currently owed to such lender, based on an agreed issue price of 0.83 per share. MCW determined to satisfy the indebtedness with common shares in order to preserve its cash for use on the construction of its extraction technology in the Uinta Basin of Utah, USA.... read more
MCW Enterprises Obtains All Permits And Will Commence Assembly Of Its Oil Sands Extraction Plant In Asphalt Ridge, Utah In December
Nov 19th 2012:MCW Enterprises Ltd. (TSX-V: MCW) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands recovery technology, today announced that it has received the necessary permits required in order to commence the December 2012 assembly of its initial oil sands extraction plant project in Asphalt Ridge, Utah. MCW’s scheduled action plan is to complete the 250 bbl/day extraction plant’s assembly during the month of December and move into the testing phase in January, 2013.... read more
MCW Enterprises Documents Progress Of Its Oil Sands Extraction Plant In Asphalt Ridge, Utah
Nov 14th 2012:Vancouver, British Columbia – November 14, 2012 – MCW Enterprises Ltd. (TSXV:MCW) (“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands recovery technology, today detailed ongoing progress of its oil sands extraction plant project in Asphalt Ridge, Utah. MCW completed the financing for this project as announced July 20, 2012. MCW intends to document the progress of its initial plant project with a series of press release announcements detailing the steps required to assess and establish the ability of its oil sands recovery technology, on which a patent application has been submitted and is pending in both the United States and Canada, to achieve production.... read more
MCW Enterprises Grants Incentive Stock Options
Nov 12th 2012:Vancouver, British Columbia – November 12, 2012 – MCW Enterprises Ltd. (TSXV:MCW) (“MCW”), a Canadian holding company involved in fuel distribution and oil sands recovery technology, announced today that its board of directors has approved the grant of 3,340,000 stock options to certain officers, directors and consultants of MCW at an exercise price of $1.10 per common share expiring on November 11, 2017. MCW currently has 34,074,887 issued and outstanding common shares and accordingly can grant up to 3,407,488 stock options pursuant to its stock option plan. Including the grant announced today, MCW currently has 3,406,666 stock options outstanding.... read more
MCW Enterprises’ CEO Featured In CEO Clips, A Video Documentary On The MCW’s Oil Sands Development In Asphalt Ridge, Utah
Nov 1st 2012:Vancouver, British Columbia – November 1, 2012 – MCW Enterprises Ltd. (TSXV:MCW) (\\\"MCW\\\"), a Canadian holding company involved in fuel distribution and oil sands recovery technology, announced today that MCW is currently being featured in a video presentation via distribution to major business media outlets throughout North America and Europe, including CBC’s Documentary Channel.... read more
MCW Energy Group Commences Trading On The TSX– Venture As It Continues Development Of Its Oil Sands Project In Asphalt Ridge, Utah
Oct 23rd 2012:Shediac, New Brunswick, Canada: MCW Energy Group, (MCW Enterprises) a Canadian holding company involved in oil production/distribution and oil sands recover technology is pleased to announce that it has commenced trading on the Toronto Stock Exchange – Venture as of Tuesday, October 23rd, 2012. The Company’s trading symbol is: MCW.... read more
MCW Energy and AXEA Capital Announce Closing of Qualifying Transaction
Oct 16th 2012:Vancouver, British Columbia – October 16, 2012 – MCW Enterprises Ltd. (formerly AXEA Capital Corp. (“AXEA”)
(TSXV:XEA.H)) (“MCW”) is pleased to announce the closing of the previously announced three cornered
amalgamation (the “Amalgamation”) between AXEA, a wholly owned subsidiary of AXEA and MCW Energy Group
Limited (“MCW Energy”). Accordingly, MCW Energy is now a wholly owned subsidiary of MCW....
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MCW Energy Group Continues Growth Of Its MCW Fuels Division With Acquisition Of Ocean Pacific Fuels Inc.’s Valero- Branded Reseller Distribution Agreements
Jul 10th 2012:MCW Energy Group Limited, a Canadian holding company with two divisions focused on value creation: (1) MCW Fuels Inc., a well-established distributor of gasoline and diesel fuels to a growing list of service stations in southern California, and (2) MCW Oil Sands Recovery, LLC, is pleased to announce that MCW Fuels has entered into a binding agreement to acquire the Valero Master Branded Reseller Distribution Agreements currently held by Ocean Pacific Fuels Inc., of Murrieta, California.... read more
MCW Energy Group Announces Closing Of Previously Announced Private Placement
Jun 29th 2012:MCW Energy Group Limited (FRANKFURT: MW4, 'MCW'), is pleased to announce that it has closed the first tranche of its previously announced brokered private placement offering (the 'Private Placement') of 2,800,000 subscription receipts ('Subscription Receipts') at a price of Cdn $0.50 per Subscription Receipt for total gross proceeds of Cdn $1,400,000. Each Subscription Receipt is convertible into one unit of MCW (each an 'MCW Unit') immediately prior to the closing of MCW's amalgamation (the 'Amalgamation') with AXEA Capital Corp. ('AXEA'). Each MCW Unit is comprised of one common share of MCW and one half of one common share purchase warrant (each an 'MCW Warrant'). Effectively on closing of the Amalgamation, each four MCW Units shall be exchanged into one unit of AXEA, comprised of one AXEA Share (at a deemed price of Cdn $2.00 per share) and one-half of one share purchase warrant, with each whole warrant entitling the holder thereof to purchase one AXEA Share at a price of Cdn $3.00 per share until the date that is 24 months following the closing of the Amalgamation. The Private Placement was led by Stonecap Securities Inc.... read more
MCW Energy Group Signs Key Oil Sands Material Supply Agreement With Temple Mountain Energy, Utah
Jun 28th 2012:MCW Energy Group Limited, a Canadian holding company with two divisions focused on value creation: (1) MCW Fuels Inc., a well-established distributor of gasoline and diesel fuels to a growing list of service stations in southern California, and, (2) MCW Oil Sands Recovery, LLC, which will implement MCW Energy Group\'s proprietary oil sands extraction technology on its lease in Asphalt Ridge, Utah, is pleased to announce that the Company has signed a key oil sands material Supply Agreement with Temple Mountain Energy Inc. of Utah.... read more
MCW Fuels (Division Of MCW Energy Group) Awarded With Key Nationwide Motor Carrier Agreement By Conoco Phillips
Jun 25th 2012:MCW Energy Group Limited, a Canadian holding company with two divisions focused on value creation: (1) MCW Fuels Inc., a well established distributor of gasoline and diesel fuels to a growing list of service stations in southern California, and (2) MCW Oil Sands Recovery, LLC, which will implement MCW Energy Group's proprietary oil sands extraction technology on its lease in Asphalt Ridge, Utah is pleased to announce the signing of a Master Motor Carrier Services Agreement between ConocoPhillips and its fuels distribution division, MCW Fuels Inc.... read more
MCW Fuels Inc. (An MCW Energy Group Limited Subsidiary) Enters Into Binding Agreement To Acquire Westco Petroleum Distributors Inc.
Jun 13th 2012:MCW Energy Group Limited, a Canadian holding company with two business units focused on value creation; i) MCW Fuels Inc., a well established distributor of gasoline and diesel fuels to service stations in southern California, and ii) MCW Oil Sands Recovery, LLC, is pleased to announce that MCW Fuels has signed an agreement (the “Agreement”) to acquire Western Petroleum Distributors Inc. (“Westco”).... read more
MCW Energy Group Appoints Dwight Romanica, Experienced Petroleum Distribution Systems Expert, To The Company's Board of Directors
Jun 7th 2012:MCW Energy Group, a Canadian holding company with two divisions: (1) MCW Fuels Inc., a well-established distributor of gasoline and diesel fuels to a growing roster of service stations in southern California, and (2) MCW Oil Sands Recovery, LLC, which owns a proprietary oil sand extraction process, is pleased to announce the appointment of Dwight J. Romanica to the Company's Board of Directors.... read more
MCW Energy Group Engages Stonecap Securities Inc. As Lead Agent & Announces A $5,000,000 Private Placement To Fund Its Utah Oil Sands Development Program
May 8th 2012:Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW Energy Group ('MCW'), a Canadian holding company with two business units focused on value creation; i) MCW Fuels Inc., a well established distributor of gasoline and diesel fuels to service stations in southern California, and ii) MCW Oil Sands Recovery, LLC which owns an oil sands extraction process that MCW is preparing to implement in the third quarter of 2012, is pleased to announce that it has engaged Stonecap Securities Inc. as lead agent to complete a private placement financing of approximately $5,000,000 (the 'Private Placement'). The proceeds of the Private Placement will be used to fund the final payment of MCW's first 250 bbl/d oil sands extraction unit (the 'Commercial Facility') to be located in the Uinta basin of Utah, and for general working capital purposes. Construction of the Commercial Facility has been completed and, subject to the timing of the closing of the Private Placement, management of MCW anticipates installation to begin early in the third quarter of 2012, followed by first production approximately one month later.... read more
MCW Energy Group Limited: MCW Fuels Receives Prestigious 'Circle of Excellence' Distributor Award From Valero
Apr 16th 2012:MCW Energy Group, a Canadian company involved in oil production/distribution and oil sands recovery technology, today announced that the Company has received a prestigious award as a key distributor for Valero Marketing and Supply Company.... read more
MCW Energy Group Reports Further Progress On Proposed Reverse Takeover With Axea Capital Corp And Voluntarily Enters Into “Quiet Period” From December 27, 2011
Dec 23rd 2011:Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW Energy Group, a Canadian holding company involved in oil production/distribution and oil sands recovery technology today announced further progress on its proposed reverse takeover transaction with AXEA Capital Corp., (TSXV:XEA.H). This transaction was originally reported by MCW on December 7th, 2011 (“MCW Energy Group Enters Into Letter of Intent For Reverse Takeover With AXEA Capital Corp. To Facilitate Toronto Exchange Listing.”).... read more
MCW Energy Group’s Ceo, Dr. R.G. Bailey, Predicts New Oil Boom With Cleaner, More Efficient Extraction Technologies
Dec 19th 2011:Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW Energy Group’s recently appointed Chief Executive Officer, Dr. R.G. Bailey was interviewed by a German television network during the recently held German Equity Forum in Frankfurt (Deutsches Eigenkapitalforum, November 21st to November 23rd, 2011.).... read more
MCW Energy Group Enters Into Letter Of Intent For Reverse Takeover With Axea Capital Corp. To Facilitate Toronto Exchange Listing
Dec 7th 2011:Shediac, New Brunswick, Canada/Frankfurt, Germany – MCW Energy Group Limited, a Canadian holding company involved in oil production/distribution and oil sands recovery technology and AXEA Capital Corp announced today that they have entered into a Letter of Intent in the course of a so-called “qualifying transaction”. This transaction is intended to take the form of a triangular amalgamation which will result in the acquisition of all of the outstanding equity interests of MCW by AXEA in return for AXEA shares. Following the transaction, shareholders of MCW will hold approximately 96% of AXEA shares, and AXEA shareholders will hold the remaining 4%. The amalgamation will constitute a reverse takeover of AXEA by MCW Energy Group Ltd., a company incorporated under the laws of New Brunswick, Canada.... read more
MCW Oil Sands Recovery, LLC, Selected As One Of The Top 50 Innovative, High-Growth Companies At Deutsches Eigenkapitalforum
Nov 22nd 2011:November 22nd, 2011: Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW Oil Sands Recovery, LLC, a Utah company involved in oil sands recovery technology, has been selected as one of the Top 50 Companies at the German Equity Forum, “Deutsches Eigenkapitalforum”, Europe’s largest capital market event in the Congress Center Messe Frankfurt.... read more
MCW Energy Group Appoints Top-Manager As COO Of Its Oil Sands Operations In Utah
Oct 20th 2011:MCW Energy Group, which is involved in oil production/distribution and oil sands recovery technology, announces the appointment of R. Burk Adams, P.E., as Chief Operating Officer of MCW Oil Sands Recovery, LLC.... read more
MCW Energy Group Appoints Experienced Chief Executive Officer To Transform The Company Into A Fully Integrated Energy Operation
Oct 17th 2011:Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW Energy Group, listed on the Open Market of the Frankfurt Stock Exchange, is pleased to announce the appointment of Dr. R Gerald Bailey as its new Chief Executive Officer MCW, a Canadian holding company involved in oil production/distribution and oil sands recovery technology.... read more
MCW Energy Group, A Leading U.S. Oil Distributor And Innovative Oil Producer, Maximizes Its Profit Potential With An Integrated Approach To The Energy Marketplace
Sep 20th 2011:Shediac, New Brunswick, Canada/Frankfurt, Germany:
MCW Energy Group, a Canadian holding company listed on the Open Market of the
Frankfurt Stock Exchange, plans to optimize the profit levels of its domesticallyproduced
oil from the Utah oil sands area by combining its oil production and its
existing distribution network under one corporate umbrella....
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MCW Energy Group’s Innovative, Environmentally Friendly Technology Will Set New Mark for Oil Sands Extraction Techniques
Jul 22nd 2011:Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW Energy Group, a Canadian holding company involved in oil production/distribution and oil sands recovery technology, has made notable progress in developing its proprietary, environmentally-friendly oil extraction technology. Its initial extraction unit is scheduled for infield testing this fall in the Asphalt Ridge Region, Utah.... read more
MCW Energy Group Appoints Environmental Consultants Company For Due Diligence On Its Oil Sands Lease Development In Asphalt Ridge
Jul 6th 2011:Shediac, New Brunswick, Canada: MCW Energy Group, a Canadian holding company involved in oil production/distribution and oil sands recovery technology, today announced that it has appointed JBR Environmental Consultants Inc. to provide environmental and permitting counsel for the Company’s oil sands lease development in Asphalt Ridge, Utah. JBR Environmental Consultants Inc. is a very reputable firm with years of experience in all facets of resource development, including regulatory compliance and permitting, ecological baseline studies, environmental due diligence, audits and mine permitting, reclamation and closure. JBR has 10 offices in western United States, with a focus on the state of Utah. The company will provide MCW with a multi-phased plan to develop MCW’s 1338 acre Uintah Basin oil sands lease within the prolific Asphalt Ridge Deposit.... read more
MCW Energy Group Appoints Geologic Team For Development Of Its Oil Sands Lease In Asphalt Ridge
Jun 29th 2011:MCW Energy Group Ltd., a Canadian holding company involved in oil production/distribution and oil sands recovery technology, today announced that it has appointed Utah Geosystems, LLC to provide geological consulting for the Company’s oil sands lease development in Asphalt Ridge, Utah.... read more
MCW Energy Group Commences Fabrication plans For Its First Oil Sands Extraction Unit To Be Deployed in Asphalt Ridge, Utah
Jun 20th 2011:Shediac, Canada: MCW Energy Group (MCW), a Canadian holding company involved in oil production/distribution and oil sands recovery technology, today announced that it has commenced its plans to fabricate a closed-loop oil extraction unit which will be utilized in the development of its oil sands lease in Asphalt Ridge, Utah.... read more
Independent Evaluation Confirms Viability Of MCW Energy Group's 50 + Million Barrel Oil Sands Resource In Asphalt Ridge, Utah
May 30th 2011:Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW Energy Group, a Canadian holding company publicly trading on the Frankfurt Stock Exchange, (Symbol: MW4.F) today announced further details of an Evaluation Report on the Company’s oil sands lease in Utah by Chapman Petroleum Engineering Ltd. of Calgary, Alberta, which has been retained by MCW for a feasibility study.... read more
MCW Energy Group Enters Into a Binding LOI for $3 Million in Convertible Debt Financing
May 25th 2011:MCW Energy Group Ltd. (”MCW”), an oil distribution and production company with operations in the U.S., announced that it has entered into a binding letter of intent to raise $3 million in a placement offering of convertible debt. The proceeds will be used to develop, operate, and finance oil sands projects both domestically and internationally, with an initial focus on MCW’s Utah-based subsidiary MCW Oil Sands Recovery, LLC (“OSR”).... read more
David Sutton, CEO of MCW Energy Group, Featured on the Borsen Radio Network AG
May 17th 2011:
MCW Energy Group (”MCW”) is pleased to announce that David Sutton, MCW’s Chief Executive Officer, was featured today on Borsen Radio Network AG. A recording of the interview can be heard here....
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