MCW Energy Group Enters Into Agreement to Acquire Enhanced Oil Recovery (EOR) Technology
MCW Energy Group Enters Into Agreement to Acquire Enhanced
Oil Recovery (EOR) Technology for Its Utah Oils Sands Project

TORONTO, ON -- (Marketwired) -- 06/30/16 -- MCW Energy Group Limited ("MCW")  (TSX VENTURE: MCW) (OTCQX: MCWEF), a Canadian holding company involved in the  development of environmentally-friendly oil sands technologies and the production of oil  from Utah's vast oil sands deposits, today announced the execution of a definitive  agreement (the "Agreement") to acquire a controlling interest in Houston-based,  exploration and production (E&P) company, Accord GR Energy, Inc. ("Accord").  Accord's assets include a limited license for two enhanced oil recovery (EOR)  technologies intended for use on MCW's 2,200 acre oil sands property in Temple  Mountain, Utah.

It also includes equitable title pursuant to a purchase agreement to 7,000 acres in 
southwest Texas, with 88 drilled and completed wells. The oil is categorized as "medium  crude" and the deposits are in the light gravity range of heavy oil at 18-22 API gravity.  Accord's SWEPT technology is designed to recover fossil hydrocarbons by improving rock  filtration and fluid properties through the use of impulse-wave based technology.  Accord's S-BRPT technology, designed to recover solid and liquid hydrocarbons through  gasification/vaporization at greater depths, is expected to expand economic recoverability  of MCW's mineral resource at depths up to 300 feet, levels currently not economical with  existing processing capabilities.

"The plan for this acquisition is to expand economic recoverability of our sub-surface  hydrocarbon assets and provide us with more flexibility in recovering our already  economical surface reserves," commented Alex Byumkin, MCW chairman. "We have  tested the technologies on our Temple Mountain site and are confident in its capabilities to  improve economical oil recoverability".
Pursuant to the Agreement, MCW will acquire 57.29% of all issued and outstanding  shares of Accord, in consideration for 59,698,308 shares of MCW and warrants to  purchase 2,000,000 shares of MCW at US$0.25 per share for three years. The common  shares issued will be subject to a four month hold period from the date of issuance. The  Agreement is conditional only on the approval of the TSX Venture Exchange and is  expected to close within 30 days.

About MCW Energy Group Limited
MCW Energy Group Limited is focused on value creation via the development and  implementation of (i) proprietary, environmentally‚Äźfriendly oil sands extraction technologies  and remedial tailings ponds project solutions, (ii) expanding production capacities of its  now operational oil sands project in Asphalt Ridge, Utah, and (iii) the formulation of  worldwide joint ventures and the licensing of oil sand opportunities with private and  governmental resource entities within countries possessing extensive oil sands/shale  deposits. MCW's management team is comprised of individuals who have extensive  knowledge in both conventional and unconventional oil and gas projects and production,
both in upstream and downstream industry sectors.

The information in this news release includes certain information and statements about m
anagement'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, TSX Venture Exchange approval of the acquisition, commercial viability of  MCW's and Accord's technology and the extraction plant, economic performance and  future plans and objectives of MCW, and the commercial production of oil from MCW's oil  sands extraction plant in Asphalt Ridge, Utah. 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.  The securities referred to in this news release have not been, nor will they be, registered  under the United States Securities Act of 1933, as amended, and may not be offered or  sold within the United States or to, or for the account or benefit of, U.S. persons absent  U.S. registration or an applicable exemption from the U.S. registration requirements. This  news release does not constitute an offer for sale of securities for sale, nor a solicitation  for offers to buy any securities. Any public offering of securities in the United States must  be made by means of a prospectus containing detailed information about the company  and management, as well as financial statements.

For more information, please contact:
MCW Energy Group Limited
Paul Davey
Tel: (800) 979-1897 (Ext. 3)
Cell: (778) 389-0915
Source: MCW Energy Group
Rainer Poertner - Chief Analyst
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