MCW Energy Group Announces Closing of Non-Brokered Private Placement and Shares for Debt Transaction

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. 


MCW Energy Group Limited (TSX VENTURE:MCW) (MCW.V) ("MCW"), a Canadian holding
company involved in fuel distribution and the creation of oil sands extraction
technology, is pleased to announce that it has completed a non-brokered private
placement financing by issuing 457,948 common shares at a price of $0.79 per
share for gross proceeds of US$300,000. All shares issued pursuant to the
financing are subject to a four-month hold period and restrictive US legend. The
financing is subject to final approval of the TSX Venture Exchange. The net
proceeds will be used by MCW for general corporate purposes and working capital.
Following the closing of the financing, there are currently 42,711,725 common
shares of MCW issued and outstanding.


In addition, MCW has entered into an agreement dated April 30, 2014 with an
arms-length lender, pursuant to which MCW will issue 3,266,927 common shares in
satisfaction of indebtedness of US$2,354,166.67 currently owed to such lender in
principal plus interest pursuant to a previously issued promissory note, based
on an agreed issue price of $0.79 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. The
shares will be issued upon acceptance by the TSX Venture Exchange. The common
shares issued in satisfaction of the indebtedness will be subject to a four
month statutory hold period from the date of issuance.


Following completion of the issuance of the 3,266,927 common shares, MCW will
have a total of 45,978,652 common shares issued and outstanding.


About MCW Energy Group:

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 75
years, having revenue in the fiscal year ending August 31st, 2011 of US$241.5
million, revenue of US$363.3 million for the fiscal year ending August 31st,
2012, and revenue of US$431.9 million for the fiscal year ending August 31st,
2013, and (ii) as a developer of proprietary technology for the extraction of
oil from oil sands at its first field in Asphalt Ridge, 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.


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.


This press release does not constitute and the subject matter hereof is not, an
offer for sale or a solicitation of an offer to buy, in the United States or to
any "U.S Person" (as such term is defined in Regulation S under the U.S.
Securities Act of 1933, as a mended (the "1933 Act")) of any equity or other
securities of MCW. The securities of MCW have not been registered under the 1933
Act and may not be offered or sold in the United States (or to a U.S. Person)
absent registration under the 1933 Act or an applicable exemption from the
registration requirements of the 1933 Act.


FOR FURTHER INFORMATION PLEASE CONTACT: 
MCW Energy Group
Paul Davey
Communications
1 [phone] (Extension 3),  Cell: 1-778-389-0915
[e-mail]
www.mcwenergygroup.com