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| Home : MCW Energy Group Announces Proposed Debt Transaction |
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Nov 04
2015 |
MCW Energy Group Announces Proposed Debt Transaction |
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TORONTO, ONTARIO--(Marketwired - Nov. 3, 2015) - MCW Energy Group Limited ("MCW") (TSX VENTURE:MCW)(OTCQX:MCWEF), a Canadian holding company involved in the production of oil from Utah's oil sands and development of environmentally-friendly oil sands technologies, announces it has entered into a non-binding term sheet for a proposed non-convertible note financing for up to US$4.915 million (the "Proposed Loan"). The Proposed Loan would include interest at a rate of 10% per annum compounded quarterly and payable on the maturity date five years from closing. MCW would grant a security interest to the lender under a general security agreement covering all of the assets of MCW. MCW also anticipates issuing shares to a finder in consideration for introducing the lender to MCW. |
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| Source:http://www.marketwired.com/mw/release.do?id=2070014&sourceType=3 |
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