Alex Blyumkin

April 24, 2017 15:15 ET

Alex Blyumkin Announces Acquisition of Common Shares of MCW Energy Group Limited in a Private Placement

LOS ANGELES, CALIFORNIA--(Marketwired - April 24, 2017) - Alex Blyumkin ("Mr. Blyumkin"), Executive Chairman and a director of MCW Energy Group Limited (the "Corporation"), has filed an early warning report (the "Report") announcing he has acquired 8,414,910 common shares ("Shares") of the Corporation at CAD$0.05 per share, for an aggregate of US$315,000 pursuant to a private placement (the "Transaction"). The Shares represent 3.5% of the currently issued and outstanding common shares of the Corporation.

Prior to the Transaction, Mr. Blyumkin held, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 25,614,186 common shares of the Corporation, representing approximately 11.3% of the issued and outstanding common shares of the Corporation. Following the Transaction, Mr. Blyumkin holds, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 34,029,096 common shares of the Corporation, representing approximately 14.3% of the currently issued and outstanding common shares of the Corporation.

The common shares were acquired for investment purposes. Mr. Blyumkin may increase or reduce his investment in the Corporation according to market conditions or other relevant factors.

For further details relating to the acquisition, please see the Report, which was filed in accordance with applicable securities laws, a copy of which is available under the Corporation's profile on the SEDAR website at www.sedar.com, or may be obtained from Mr. Blyumkin c/o Alon HaCohen, TQM Law Corporation, (310) 844 6968, alon@TQMLaw.com.

Contact Information

  • Mr. Blyumkin c/o Alon HaCohen
    TQM Law Corporation
    (310) 844 6968
    alon@TQMLaw.com