VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2012) - MCW Enterprises Ltd. (TSX VENTURE:MCW) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands recovery technology, is pleased to announce that it has retained Questrade, Inc. ("Questrade") to provide market‐making services in accordance with TSX Venture Exchange ("TSXV") policies. Questrade will trade shares of MCW on the TSXV for the purposes of maintaining an orderly market and improving the liquidity of MCW's shares.
Under the terms of a one‐year agreement (the "Agreement") dated November 29, 2012, Questrade will receive compensation of $6,800 per month. Questrade will not receive shares or options as compensation. MCW and Questrade are unrelated and unaffiliated entities. Questrade, as a private entity, does not currently have any interest, directly or indirectly, in MCW or its securities, but is expected to acquire such an interest in the future pursuant to the Agreement.
About Questrade, Inc.:
Questrade, a corporation governed by the laws of the Province of Ontario, is an Investment Dealer and a member of the Investment Industry Regulatory Organization of Canada, which provides Canadians with high‐speed, direct access trading in the U.S. and Canadian stock and options markets through its IQ trading platforms. Questrade offers market making services on behalf of Toronto Stock Exchange and TSXV listed companies, providing liquidity on the stock exchange for shareholders.
About MCW Enterprises Ltd:
MCW, through its wholly‐owned subsidiary, 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 over 60 years, having revenue in the fiscal year ending August 31, 2011, of US$241.5 million and, (ii) as a developer of proprietary technology for the extraction of oil from sand 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: www.mcwenergygroup.com.
The information provided in this press release regarding Questrade has been provided to MCW by Questrade and has not been independently verified by MCW.
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 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.
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