ME2C® Environmental Announces Extension of Debt Repayment Agreement with Alterna Capital Partners
Agreement with main lending partner extended to support timing of Foreseen Short term uplisting
CORSICANA, TX, Jan. 26, 2022 (GLOBE NEWSWIRE) — Midwest Energy Emissions Corp. (OTCQB: MEEC) (“ME2C Environmental” or the “Company”), a leading environmental technology company, today announced that it has entered into an agreement with AC Midwest Energy LLC (“Alterna”), an affiliate of Alterna Capital Partners , a registered investment adviser, which extends the closing date of the debt repayment agreement with Alterna, previously announced in June 2021. The agreement will repay all existing secured and unsecured debt obligations currently held by Alterna . The original terms of the agreement remain consistent with a new closing date of no later than June 30, 2022.
“As a long-term shareholder of MEEC, the extension agreement with Alterna demonstrates this partner’s heightened interest in our business value and strategic growth initiatives,” said Richard MacPherson, Chief from the direction of ME.2C Environment. “Alterna’s agreement to accept a significant portion of the debt in the form of equity, rather than a cash payment, demonstrates its confidence in our ability to move forward successfully.”
“We are grateful for the support of our long-term shareholders and excited about the path forward as we approach 2022,” MacPherson concluded.
The completion of the transaction described herein with Alterna is subject to various closing conditions.
About me2VS® Environment
ME2C Environmental is a leading environmental technology company that develops and supplies patented and proprietary solutions to the global energy industry. ME2C Environmental’s industry-leading services have been shown to eliminate emissions at a significantly lower cost and with less operational impact than currently used methods, while maintaining and/or increasing power plant production and preserving the marketing of by-products 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
Except for historical information contained in this press release, the contents 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 using words such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “will” and similar expressions, but these words are not the proprietary 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. Items that could cause actual results to differ materially from those set forth in the forward-looking statements include, among other factors, the gain or loss of a major customer, change in environmental regulations, disruption of supply in materials, fluctuations in the capacity factor of power plant operations and electrical demands, a material change in general economic conditions in any of the regions where our customers’ utilities may experience material changes in demand of electricity, a significant disruption in the supply of coal to our customer units, the loss of key management personnel, the availability of capital and any major litigation involving ME2C Environment. Additionally, this release contains urgent information that reflects management’s best analysis only as of the date of this release. ME2C Environmental undertakes no obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that occur after the date of this release. Further information regarding issues that could materially affect financial performance related to the forward-looking statements contained in this release can be found in ME2C Environmental’s periodic filings with the Securities and Exchange Commission.
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