Alex Blyumkin

January 21, 2016 16:30 ET

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

TORONTO, ONTARIO--(Marketwired - Jan. 21, 2016) - 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 5,729,142 common shares ("Shares") of MCW Energy Group Limited (the "Corporation") in consideration for personally guaranteeing an aggregate of US$16,500,000 of debt incurred by the Corporation or its affiliates to four arm's length creditors (the "Transaction").

Following the Transaction, Alex Blyumkin holds, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 16,452,787 common shares of the Corporation, and warrants exercisable for 1,000,000 common shares of the Corporation representing (assuming full exercise of the warrants) approximately 33.52% 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, 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 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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