MCW Energy Group Appoints New CFO and Acquires Valero Gas Station to Settle Note Payable [Global Data Point]
(Global Data Point Via Acquire Media NewsEdge) MCW Energy Group, a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced the appointment of Karlo Vartan, as Chief Financial Officer of the MCW Energy Group. to replace Richard S. Rawdin who has resigned to focus on other opportunities.
Mr. Vartan will take over the position serving both divisions of MCW, MCW Fuels and MCW Oil Sands Recovery, LLC. He has over 15 years of business experience in corporate finance and securities law and has focused much of his career on emerging growth companies, mergers and acquisition, strategic business planning and alliances, and investor relations. His background includes business strategy consulting, public company representation, mortgage back securities, mergers and acquisitions with high tech firms in Los Angeles and New York.
In addition, MCW announces that it has acquired, through its wholly owned subsidiary, MCW Fuels, Inc. ("MCW Fuels"), a Valero branded gas station (the "Gas Station") in Thousand Oaks, California, including the real property the gas station is located on, owned by a private California corporation, owned and controlled by Alex Blyumkin and David Sutton (collectively, the "Vendors"), both directors of MCW, to settle an aggregate debt (the "Debt") of US$1,038,522 owed by Messrs Blyumkin and Sutton to MCW Fuels.
The Gas Station was independently valued at US$2,700,000 not including US$122,654 of inventory, accordingly, MCW Fuels has become a co-borrower on a loan in the approximate amount of US$1,657,335 which is secured against the Gas Station and MCW and MCW Fuels have issued a Promissory Note in favour of the Vendors for US$
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