MCW Energy Group Receives Approval for Commencement of Trading on the OTCQX Platform: Symbol: MCWEF
14 Maio 2014 - 5:08PM
Marketwired
MCW Energy Group Receives Approval for Commencement of Trading on
the OTCQX Platform: Symbol: MCWEF
TORONTO, ON--(Marketwired - May 14, 2014) - 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, 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.
MCW's Chief Executive Officer, Dr. R.G. (Jerry) Bailey, stated,
"Trading on a U.S. marketplace is an important benchmark for the
Company as it nears the completion of its first oil sands
extraction unit in Utah. The utilization of a U.S. forum
provides a whole new universe for investors interested in
environmentally-friendly energy issues." He added, "Our OCTCQ
trading platform will provide them with easier access, faster, more
efficient trading and added liquidity in MCW Energy Group shares."
Investors using OTCQX will find current financial disclosures and
Real Time Level 2 quotes for MCW.
The OTCQX Exchange was formulated primarily for high growth and
early stage companies wanting to develop their operations and
investor base in a cost-effective manner. It represents an
electronic marketplace for investors seeking transparent trading,
superior information and easy access through their regulated U.S.
brokers.
MCW is currently completing the assembly stages of its
initial pilot plant on its lease site and anticipates completion of
its unit in September, 2014. The unit will then undergo a
series of tests prior to production commencement. The initial
extraction unit will also serve as a pilot plant for additional
scaled-up capacity units. In preparation for testing, MCW has
now stockpiled over 100,000 tons of oil sands feedstock for
processing.
About MCW Energy Group: MCW Energy Group Limited is focused on
value creation as (i) a distributor of gasoline and diesel fuels to
service stations in Southern California for 75 years, having
revenue in the fiscal year ending August 31st, 2011 of USD $ 241.5
million, revenue of USD $ 363.3 million for the fiscal year ending
August 31st, 2012, and revenue of USD $ 431.9 million for the
fiscal year ending August 31st, 2013, and (ii) as a developer of
proprietary technology for the extraction of oil from oil sands at
its first field in Asphalt Ridge, Utah, USA. MCW's management
team is comprised of individuals who have extensive knowledge in
both conventional and unconventional oil and gas projects and
production, as well as refinery and fuel distribution
experience.
The information in this news release includes certain
information and statements about management's view of future
events, expectations, plans and prospects that constitute
forward-looking statements. These statements are based upon
assumptions that are subject to significant risks and
uncertainties. Because of these risks and uncertainties, and
as a result of a variety of factors, the actual results,
expectations, achievements or performance may differ materially
from those anticipated and indicated by these forward-looking
statements. Forward-looking statements in this news release,
include, but are not limited to, the commercial viability of the
technology and the extraction plant economic performance and future
plans and objectives of MCW. Any number of important factors
could cause actual results to differ materially from these
forward-looking statements as well as future results. Although
MCW believes that the expectations reflected in forward-looking
statements are reasonable, they can give no assurances that the
expectations of any forward-looking statements are reasonable, they
can give no assurances that the expectations of any forward-looking
statements will prove to be correct. Excepts as required by
law, MCW disclaims any intention and assumes no obligation to
update or revise any forward-looking statements to reflect actual
results, whether as a result of new information, future events,
changes in assumptions, changes in factors affecting such
forward-looking statements or otherwise.
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.
For more information, please contact: MCW Energy Group Paul
Davey Communications Tel: 1 (800) 979-1897 (Extension 3) Cell:
1-778-389-0915 Email: pdavey@mcwenergygroup.com Corporate Website:
www.mcwenergygroup.com
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