MCW Energy Group Limited

MCW Energy Group Limited

February 26, 2015 15:01 ET

MCW Energy Group Announces Consulting Agreement and Initial Issuance of Shares

TORONTO, ONTARIO--(Marketwired - Feb. 26, 2015) - MCW Energy Group Limited ("MCW") (TSX VENTURE:MCW)(OTCQX:MCWEF), a Canadian holding company involved in the development and implementation of oil sands extraction technologies, announces that it has entered into an agreement with a consultant, pursuant to which MCW will issue the consultant on a monthly basis, until termination of the agreement, US$10,000 of common shares in partial satisfaction of services rendered. To date, MCW has issued the consultant 61,375 in satisfaction of US$40,000 for the four month period ended February 8, 2015. The common shares issued are subject to a four month hold period from the date of issue.

Following completion of the issuance of the 61,375 common shares, MCW will have a total of 50,023,730 common shares issued and outstanding.

About MCW Energy Group Limited

MCW is a Canadian, publicly-traded company which is focused on the development and implementation of (i) proprietary, environmentally-friendly oil sands extraction technologies and remedial project solutions, and (ii) worldwide joint ventures and licensing of oil sands opportunities with governmental and private industry entities within countries possessing extensive oil sands/shale deposits. MCW's management team is comprised of individuals who have extensive knowledge in both conventional and unconventional oil and gas projects and production, both in upstream and downstream industry sectors.

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 potential future issuance of shares under the consulting agreement; director, shareholder, Exchange and regulatory approval of the transactions contemplated herein; 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.

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