MCW Energy Group Issues Bonus Shares and Additional Drawdown ofrnDebenture

摘要

2014 AUG 15 (VerticalNews) -- By a News Reporter-Staff News Editor at Energy Business Journal -- 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 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, 234,981 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.