MCW Energy Group Limited Comments on Recent Market Activity
TORONTO, ONTARIO -- (Marketwired) -- 12/09/16 --
MCW Energy Group Limited (the "Company") (TSX VENTURE:MCW)(OTCQX:MCWEF), a Canadian holding company involved in the development of environmentally-friendly oil sands technologies, the production of oil from Utah's vast oil sands deposits, and remediation projects involving extraction of contaminating hydrocarbons, wishes to make the following statements regarding certain recent promotional activity surrounding the Company's common stock that it was made aware by OTC Markets on December 5, 2016.
The activities were promotional newsletter emails encouraging investors to purchase the Company's common stock. This promotional activity coincided with higher than average trading volume and fluctuations in the Company's stock price. The Company was unaware of the promotional activity until informed by OTC Markets, and is unaware of the full nature of the promotional activity, the extent of the email newsletters' dissemination, or the responsible parties.
Neither the Company, its officers, directors and, to the Company's knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) have, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of promotional materials including these email newsletters; and that neither the Company's officers, directors and, to the knowledge of the Company, any controlling shareholders, sold or purchased shares of Common Stock of the Company within the last 30 days.
The Company is not affiliated in any way with the authors of these promotional newsletter emails.
About MCW Energy Group
MCW Energy Group Limited is focused on value creation via the development and implementation of (i) proprietary, environmentally-friendly oil sands technologies and remedial tailing ponds projects solutions (ii) expanding production capacities of its extraction plant in Asphalt, Ridge, Utah, and (iii) the formulation of worldwide joint ventures and the licensing of oil sands opportunities with worldwide with private and government entities within countries possessing extensive oil sands/oil 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
MCW Energy Group Limited
Chief Executive Officer
(800) 979-1897 (Ext. 3)
Source: MCW Energy Group Limited
Released December 9, 2016