TMCnet News
MCW Energy Group Grants Incentive Stock Options(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 21 August 2014 Release date- 19082014 - Toronto, Ontario, Canada - MCW Energy Group Limited (TSXV: MCW; OTCQX: MCWEF), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, announces today that its board of directors has approved the grant of 400,000 stock options to Bill G. Calsbeck, a recently appointed director of MCW, at an exercise price of $1.10 per common share expiring on August 15, 2019. MCW currently has 46,448,614 issued and outstanding common shares and pursuant to its fixed number option plan can grant up to 8,399,315 stock options. Including the grant announced today, MCW currently has 2,883,426 stock options outstanding. The options and underlying common shares will be subject to a four month hold period from the date of issuance of the option. About MCW Energy Group Limited MCW 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 31, 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. Investor Contact: Paul Davey Tel: 1-(800) 979-1897 Email: [email protected] (c) 2014 Electronic News Publishing - |