Agreement with Major Lending Partner Extended to Support Timing of Planned Near-Term Uplisting
CORSICANA, TX, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the “Company”), a leading environmental technologies firm, today announced that it has entered into an agreement with AC Midwest Energy LLC (“Alterna”), an affiliate of Alterna Capital Partners, a registered investment advisor, which extends the closing date deadline for the debt repayment agreement with Alterna, previously announced in June 2021. The agreement will repay all existing secured and unsecured debt obligations presently 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 holder of MEEC stock, the extension agreement reached with Alterna, shows this partner’s increased interest in the value of our company and strategic growth initiatives,” said Richard MacPherson, Chief Executive Officer of ME2C Environmental. "Alterna’s agreement to accept a significant portion of the debt in equity, rather than a cash payment, is a testament to their confidence in our ability to move forward successfully.”
“We are thankful for the support of our long-term shareholders and excited for our path forward as we move into 2022,” concluded MacPherson.
The completion of the transaction described herein with Alterna is subject to various closing conditions.
About ME2C® Environmental
ME2C Environmental 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.
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