News Feed Item
Alex Blyumkin Announces Acquisition of Convertible Debentures, Common Shares and Warrants of MCW Energy Group Limited
|By Marketwired .
|July 3, 2014 01:32 PM EDT
TORONTO, ONTARIO -- (Marketwired) -- 07/03/14 -- Alex Blyumkin, a director and officer of MCW Energy Group Limited (TSX-V: MCW) (the "Corporation"), has filed an early warning report (the "Report") announcing he has acquired a US$824,000 principal amount secured convertible debenture and a US$2,000,000 principal amount secured convertible debenture of the Corporation.
The US$824,000 principal amount secured convertible debenture provides that the principal amount of the Debenture will bear interest at a rate of 10% per annum, payable on maturity (March 7, 2017). At the option of Mr. Blyumkin, the principal under the convertible Debenture may be converted into 998,230 common shares of MCW ("MCW Shares") at a conversion price of $0.90 at any time until maturity.
The US$2,000,000 principal amount secured convertible debenture (the "2nd Debenture") provides that an initial drawdown in the amount of US$1,139,000 (the "Initial Drawdown") will be advanced by Mr.
Blyumkin to the Corporation upon the execution and delivery of the 2nd Debenture, with any subsequent drawdowns to be advanced to the Corporation at the option of Mr. Blyumkin, upon request by the Corporation. The 2nd Debenture provides that the principal amount of the 2nd Debenture will bear interest at a rate of 10% per annum, payable on maturity (June 25, 2017). At the option of Mr. Blyumkin, the principal under the 2nd Debenture may be converted into MCW Shares at a conversion price equal to either: (i) $1.00 per MCW Share for drawdowns on or before August 11, 2014, or (ii) the minimum price permitted by the TSX Venture Exchange for drawdowns on or after August 12, 2014. The MCW Shares (1,221,122) issuable pursuant to the Initial Drawdown represent approximately 2.6% of the currently issued and outstanding MCW Shares. The MCW Shares (3,142,430) issuable pursuant to a full drawdown on or before August 11, 2014 would represent approximately 6.4% of the currently issued and outstanding MCW Shares.
Mr. Blyumkin also acquired 265,921 MCW Shares and warrants exercisable for 71,429 MCW Shares indirectly through the Alex and Polina Blyumkin Trust (the "Trust") pursuant to a share purchase agreement originally disclosed in an Early Warning Report and News Release filed on SEDAR on November 21, 2014. In the event of exercise of the warrants into 71,429 MCW Shares, the 337,350 (265,921 + 71,429) MCW Shares would represent approximately 0.7% of the currently issued and outstanding MCW Shares.
Mr. Blyumkin currently holds, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 3,722,892 MCW Shares, warrants exercisable for 1,000,000 MCW Shares, representing (assuming full exercise of the warrants) approximately 9.3% of the currently issued and outstanding MCW Shares.
Immediately following the three acquisitions, Mr. Blyumkin will hold, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 3,722,892 MCW Shares, warrants exercisable for 1,000,000 MCW Shares and debentures convertible into 2,219,352 MCW Shares (3,142,430 assuming full drawdown on the 2nd Debenture on or before August 11, 2014), representing approximately 14.6% of the currently issued and outstanding MCW Shares (assuming full exercise of the warrants and full drawdown on the 2nd Debenture).
The convertible debentures, common shares and warrants were acquired for investment purposes. Alex Blyumkin and the Trust may increase or reduce their investment in the Corporation according to market conditions or other relevant factors.
For further details relating to the acquisition, please see the Report, a copy of which is available under the Corporation's profile on the SEDAR website at www.sedar.com or may be obtained from Alex Blyumkin at c/o Alon HaCohen, TQM Law Corporation, 1801 Century Park E, Suite 2400, Los Angeles, California, 90067, (310) 844 6968, [email protected].
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location.
With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 26, 2016 07:00 AM EDT Reads: 3,903
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 26, 2016 05:00 AM EDT Reads: 3,013
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved.
In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Aug. 26, 2016 03:15 AM EDT Reads: 1,400
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences.
In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Aug. 26, 2016 02:15 AM EDT Reads: 1,942
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years?
This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 26, 2016 01:30 AM EDT Reads: 1,663
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions.
In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Aug. 26, 2016 01:15 AM EDT Reads: 2,011
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market.
In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 26, 2016 01:00 AM EDT Reads: 1,950
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aug. 26, 2016 12:45 AM EDT Reads: 2,255
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things.
And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Aug. 26, 2016 12:30 AM EDT Reads: 2,899
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Aug. 25, 2016 11:45 PM EDT Reads: 2,285
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications.
Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Aug. 25, 2016 10:45 PM EDT Reads: 1,870
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 25, 2016 10:15 PM EDT Reads: 1,717
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Aug. 25, 2016 09:15 PM EDT Reads: 2,203
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage.
Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Aug. 25, 2016 09:00 PM EDT Reads: 1,700
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications.
In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability.
Aug. 25, 2016 06:30 PM EDT Reads: 1,941