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| Home : MCW Energy Group Announces Shares for Debt Transactions |
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Feb 12
2016 |
MCW Energy Group Announces Shares for Debt Transactions |
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TORONTO, ONTARIO--(Marketwired - Feb. 11, 2016) - MCW Energy Group Limited ("MCW") (TSX VENTURE:MCW)(OTCQX:MCWEF), a Canadian holding company involved in the development of environmentally-friendly oil sands technologies and the production of oil from Utah's vast oil sands deposits, has entered into two shares for debt agreements, pursuant to which MCW will issue 1,862,400 common shares in satisfaction of US$160,000 of indebtedness currently owed to two arm's length service providers. MCW determined to satisfy the indebtedness with common shares in order to preserve its cash for use on its extraction technology in Asphalt Ridge, Utah. The shares will be issued upon acceptance by the TSX Venture Exchange. The common shares issued in satisfaction of the indebtedness will be subject to a four month hold period from the date of issuance. |
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| Source:http://www.marketwired.com/mw/release.do?id=2096238&sourceType=3 |
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