ME2C Environmental Eliminates $860,000 of Convertible Debt
Conversion Further Reduces Debt Profile & Fortifies Balance Sheet
CORSICANA, TX, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the “Company”), a leading environmental technologies firm, today announced that the Company will convert holders of all of outstanding principal of its 2018 Convertible Promissory Notes into ME2C Environmental shares. The Company will convert a total of $860,000 of outstanding principal into shares of the Company’s common stock at the Note’s conversion price of $0.50 per share.
Richard MacPherson, President and Chief Executive Officer of ME2C Environmental, commented: “We continue to see exciting momentum in the industry in conjunction with several recent announcements. Earlier this month, we announced that we are actively developing a methane gas emissions abatement technology for the oil & gas industry. In January, we reported licensing agreements for our two-part Sorbent Enhancement Additive process for mercury removal from coal-fired power plants with the last two of four major North American utility defendants named in our previously disclosed patent litigation.
“Our share price increase as of late has now triggered a forced debt conversion per the terms of the notes, which will further strengthen our balance sheet as we look ahead towards our goal to uplist in 2021. We look forward to continued operational improvements as we progress through the year while creating sustainable, long-term value for our shareholders,” concluded MacPherson.
About ME2C Environmental (ME2C®)
ME2C Environmental (OTCQB: MEEC), is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME2C Environmental’s leading-edge services have been shown to achieve emissions removal at a significantly lower cost and with less operational impact than currently used methods, while maintaining and/or increasing power plant output and preserving the marketability of byproducts for beneficial use. ME2C Environmental is a trade name of Midwest Energy Emissions Corp. For more information, please visit www.me2cenvironmental.com.
Safe Harbor Statement
With the exception of historical information contained in this press release, content herein may contain "forward-looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by using words such as "anticipate," "believe," "plan," "expect," "intend," "will," and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the gain or loss of a major customer, change in environmental regulations, disruption in supply of materials, capacity factor fluctuations of power plant operations and power demands, a significant change in general economic conditions in any of the regions where our customer utilities might experience significant changes in electric demand, a significant disruption in the supply of coal to our customer units, the loss of key management personnel, availability of capital and any major litigation regarding ME2C Environmental. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. ME2C Environmental does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements contained in this release can be found in ME2C Environmental’s periodic filings with the Securities and Exchange Commission.
ME2C Environmental Contact:
Main: 614-505-6115 x-1001
Released February 18, 2021