MCW Energy Group Limited
TSX VENTURE : MCW
OTCQX : MCWEF

MCW Energy Group Limited

October 14, 2014 15:11 ET

MCW Energy Announces Debenture Financing

TORONTO, ONTARIO--(Marketwired - Oct. 14, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

MCW Energy Group Limited (TSX VENTURE:MCW)(OTCQX:MCWEF) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces the issuance of two secured debentures (the "Debentures") for an aggregate principal amount of $1,100,000 to two private lenders. The Debentures provide that the principal amount of the Debentures will bear interest at a rate of 12% per annum, payable monthly and will mature on October 15, 2017. The Debentures are secured by all of the assets of MCW. The proceeds will be used by MCW on capital expenditures on its oil sands plant facility in Asphalt Ridge, Utah, as well as for working capital. In addition, MCW also issued the Lenders common share purchase warrants exercisable for an aggregate of 500,000 common shares of MCW at $1.00 per share until October 10, 2017. All securities issued pursuant to the financing will be subject to a four-month hold period.

About MCW Energy Group Limited:

MCW Energy Group Limited is focused on value creation as (i) a distributor of gasoline and diesel fuels to service stations in Southern California for 75 years, having revenue in the fiscal year ending August 31, 2011 of US$241.5 million, revenue of US$363.3 million for the fiscal year ending August 31, 2012, and revenue of US$431.9 million for the fiscal year ending August 31st, 2013, and (ii) as a developer of proprietary technology for the extraction of oil from oil sands at its first field in Asphalt Ridge, Utah, USA. MCW's management team is comprised of individuals who have extensive knowledge in both conventional and unconventional oil and gas projects and production, as well as refinery and fuel distribution experience.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release, include, but are not limited to the commercial viability of the technology and the extraction plant, economic performance and future plans and objectives of MCW. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although MCW believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, MCW disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of MCW. The securities of MCW have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.

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