VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 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 called a special meeting (the "Meeting") of shareholders of MCW, to be held on December 12, 2012. At the Meeting shareholders of MCW will be asked to approve (i) the continuance of MCW from British Columbia to Ontario; and (ii) new by‐laws to be adopted by MCW upon continuation into Ontario. Once continued into Ontario, MCW intends on completing a short‐form amalgamation with its wholly owned subsidiary, MCW Energy Group Limited, with the amalgamated corporation being named "MCW Energy Group Limited". The amalgamated company, MCW Energy Group Limited, will continue to trade on the TSX Venture Exchange under the trading symbol "MCW".
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) 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 their website www.mcwenergygroup.com.
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.