Petroteq Energy Inc.

MCW Energy Group is pleased to announce that it has closed the first tranche of its previously announced brokered private placement offering of 2,800,000 subscription receipts at a price of Cdn $0.50 per Subscription Receipt for total gross proceeds of Cdn $1,400,000. Each Subscription Receipt is convertible into one unit of MCW immediately prior to the closing of MCW's amalgamation with AXEA Capital Corp.). Each MCW Unit [...]

MCW Energy Group which will implement MCW Energy Group's proprietary oil sands extraction technology on its lease in Asphalt Ridge, Utah, is pleased to announce that the Company has signed a key oil sands material Supply Agreement with Temple Mountain Energy Inc. of Utah. Under this five year Supply Agreement, Temple Mountain will supply MCW with 8,333 tons of oil sands material per month until the year 2016. The terms of [...]

MCW Energy Group which will implement MCW Energy Group's proprietary oil sands extraction technology on its lease in Asphalt Ridge, Utah, is pleased to announce the signing of a Master Motor Carrier Services Agreement between ConocoPhillips and its fuels distribution division, MCW Fuels Inc. The Master Motor Carrier Services Agreement, signed recently by both parties, essentially appoints MCW Fuels as a key fuels [...]

MCW Energy Group that MCW is preparing to implement in the third quarter of 2012, is pleased to announce that it has engaged Stonecap Securities Inc. as lead agent to complete a private placement financing of approximately $5,000,000. The proceeds of the Private Placement will be used to fund the final payment of MCW's first 250 bbl/d oil sands extraction unit (the 'Commercial Facility') to be located in the Uinta basin [...]

MCW Energy Group is pleased to announce the appointment of Dwight J. Romanica to the Company's Board of Directors. Mr. Romanica has substantial experience in the petroleum distribution systems sector and is a founder and former Chief Executive Officer of Canmax Technology Ltd., a leading developer and supplier of software automation systems for the retail petroleum and convenience store industries. This software [...]

MCW Energy Group today announced that the Company has received a prestigious award as a key distributor for Valero Marketing and Supply Company. During the 2012 Valero National Distributor Conference (VNDC) held in San Antonio, Texas in March 2012, MCW Fuels was honored by the Valero Marketing & Supply Company with a prestigious "Circle of Excellence Award" as an outstanding distributor/jobber for the growing Valero [...]

Sami Dabbas, Chief Operating Officer of MCW Energy Group, was invited this week to join SIGMA's Fuel Supplier Relations Committee and SIGMA's Marketer Operations Committee. SIGMA, founded in 1958, is a non-profit, national trade association representing the most successful, progressive, and innovative independent motor fuel marketers and chain retailers in the U.S. SIGMA's 270 corporate members command 37 percent of the [...]