MCW - news!

"MCW Enterprises Ltd., a Canadian holding company involved in fuel distribution and the creation of oil sands recovery technology, announces that it has entered into an agreement with an arms?length lender, pursuant to which MCW will issue 940,963 common shares in satisfaction of indebtedness of $781,000 currently owed to such lender, based on an agreed issue price of $0.83 per share. MCW determined to satisfy the indebtedness with common shares in order to preserve its cash for use on the construction of its extraction technology in the Uinta Basin of Utah, USA." This is the latest PR release from MCW's management. Investing in oil sands extraction tech will definitely bring them more than enough money, but they do need a lot of start up money to work on this, and this is a good way to compensate.