Alex Blyumkin

July 07, 2015 13:52 ET

Alex Blyumkin Announces Acquisition of Common Shares of MCW Energy Group Limited

TORONTO, ONTARIO--(Marketwired - July 7, 2015) - Alex Blyumkin, a director and officer of MCW Energy Group Limited (TSX VENTURE:MCW) (the "Corporation"), has filed an early warning report (the "Report") announcing he has acquired 9,200,000 common shares ("Shares") of MCW Energy Group Limited (the "Corporation") pursuant to an executed definitive debt conversion agreement, MCW Fuels would convert its unsecured demand no interest promissory note in the amount of US$5,685,057 due from the Corporation (the "Intercompany Loan"). The Intercompany Loan was converted into 9,200,000 Share of the Corporation at a deemed price of CDN$0.74 per share (the "Debt Conversion").

Immediately following the acquisition, the Offeror will hold, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 14,721,051 common shares of the Corporation, warrants exercisable for 71,429 common shares of the Corporation representing (assuming full exercise of the warrants) approximately 24.8% of the currently issued and outstanding common shares of the Corporation.

The common shares were acquired for investment purposes. Alex Blyumkin may increase or reduce MCW Fuels, LLC's investment in the Corporation according to market conditions or other relevant factors.

For further details relating to the acquisition, please see the Report, a copy of which is available under the Corporation's profile on the SEDAR website at www.sedar.com or may be obtained from Alex Blyumkin at c/o Alon HaCohen, TQM Law Corporation, 1801 Century Park E, Suite 2400, Los Angeles, California, 90067, (310) 844 6968, alon@TQMLaw.com.

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