VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 11/12/12 — MCW Enterprises Ltd. (TSX VENTURE: MCW) (“MCW”), a Canadian holding company involved in fuel distribution and oil sands recovery technology, announced today that its board of directors has approved the grant of 3,340,000 stock options to certain officers, directors and consultants of MCW at an exercise price of $1.10 per common share expiring on November 11, 2017.
MCW currently has 34,074,887 issued and outstanding common shares and accordingly can grant up to 3,407,488 stock options pursuant to its stock option plan. Including the grant announced today, MCW currently has 3,406,666 stock options outstanding.
About MCW Enterprises Ltd.
MCW, through its wholly owned subsidiary, MCW Energy Group Limited, is focused on value creation as (i) a distributer of gasoline and diesel fuels to service stations in Southern California for over 60 years, having revenue, in the fiscal year ending August 31, 2011, of US$241.5 million, and (ii) a developer of proprietary technology for the extraction of oil from sand and shale at its first field in the Uinta basin of 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. For additional information on MCW, please visit .
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, economic performance and future plans and objectives of the Company. 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.
Contacts:
MCW Enterprises Ltd.
Dr. Gerry Bailey
Chief Executive Officer
+1 (800) 979-1897