TORONTO, ONTARIO--(Marketwire - Feb. 19, 2013) -MCW Energy Group Limited (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 Martin J. Doane has joined its board of directors to replace Bill G. Calsbeck who has resigned to focus on his other business responsibilities.
The board would like to thank Bill for his invaluable contributions to MCW over the previous few years, including his significant and tieless efforts in assisting MCW with its public listing on the TSX Venture Exchange.
Mr. Doane is a founding partner and the CEO of Ubequity Capital Partners Inc. and he has over 18 years' experience as a lawyer and two decades of activity in the corporate finance, M&A, financial services and venture capital fields. He has served on a variety of boards of both public and private companies. He has also served as the CEO of technology and digital media companies, including most recently, Silverback Media PLC (now Adenyo), which he grew in less than 3 years from an idea to a multi‐national mobile solutions group, with a revenue base of $25 million and 100+ employees. Mr. Doane is a graduate of the University of Western Ontario and Osgoode Hall Law School. In 2002, he was awarded the Golden Jubilee Medal for his public service to Canada.
About MCW Energy Group Limited:
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 72 years, having revenue in the fiscal year ending August 31, 2011, of US$241.5 million, most recently reported having revenue of US$363.3 million for the fiscal year ending August 31, 2012, and (ii) as a developer of proprietary technology for the extraction of oil from oil sands 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.
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 MCW. 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.