ME2C Environmental Receives Dollar for Dollar Credit Reducing Remaining Debt with Its Principal Financial Partner

Rhea-AI Summary

Midwest Energy Emissions Corp. (MEEC) announces the facilitation of the sale of an initial block of shares for its principal financial partner, resulting in a credit of $960,000 against the outstanding principal balance of an unsecured note. The company has the ability to sell certain shares of common stock held by the lender through 2024, receiving dollar for dollar credits based on the sale amount. The recent private sale of restricted shares to unaffiliated third parties has led to the credit announcement. CEO Richard MacPherson highlights the debt reduction benefits and commitment to eliminating remaining debt obligations with the lender.

Company Facilitates Sale of Initial Block of Shares for Principal Financial Partner

Corsicana, Texas--(Newsfile Corp. - March 19, 2024) - Midwest Energy Emissions Corp. (TSXV: MEEC) (OTCQB: MEEC) ("ME₂C Environmental " or the "Company"), a leading environmental technologies firm, announced today that the Company will be receiving a credit of $960,000 against the remaining outstanding principal balance of the unsecured note held by its principal financial partner.

As part of the debt restructuring previously reported, the Company has been granted the ability to facilitate the sale of certain shares of common stock held by the lender through the end of 2024 and would be entitled to receive dollar for dollar credits based upon the amount received by such lender. On March 11, 2024, the private sale of certain restricted shares held by the lender to certain unaffiliated third parties was completed which entitled the Company to receive the credit being announced today.

The Company indicated that any further sales of stock held by the lender facilitated by the Company through the end of 2024 will entitle the Company to receive a dollar for dollar credit against the non-recourse profit share held by the lender.

Richard MacPherson, Chief Executive Officer of ME₂C Environmental, stated, "Following the recent announcement of this restructured debt arrangement with our financial partner which provided millions of dollars of benefits immediately, we have now additionally reduced the remaining outstanding principal balance owing by an additional $960,000 as a result of this private sale of restricted stock offered to friends and family being announced today. We remain committed to continuing our efforts to further reduce and ultimately eliminate any remaining debt obligations with this lender."

About ME2C® Environmental

ME₂C Environmental is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME₂C's leading-edge mercury emissions technologies and 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 http://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 U.S. Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities laws (collectively, "forward-looking statements"). 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 loss of major customers; dependence on availability and retention of key suppliers; changes, or lack of changes, in environmental regulations; risks related to advancements in technologies; lack of diversification in the Company's business; risks related to intellectual property, including the ability to protect intellectual property and the success with any patent litigation; competition risks; changes in demand for coal as a fuel source for electricity production; ability to retain key personnel; absence of a liquid public market for our common stock; share price volatility; and, the potential that dividends may never be declared. 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 or other forward-looking statements contained in this release can be found in ME₂C Environmental's periodic filings with the Securities and Exchange Commission or Canadian securities regulators.

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.

ME₂C Environmental Contact:

Stacey Hyatt
Corporate Communications
ME₂C Environmental
Main: 614-505-6115 x-1001
Direct: 404-226-4217
shyatt@me2cenvironmental.com

Investor Relations Contact:

Jessica Butt
IR Representative
Adelaide Capital
Direct: 416-844-6202
jessica@adcap.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202234

FAQ

What does Midwest Energy Emissions Corp. (MEEC) announce regarding the sale of shares for its principal financial partner?

Midwest Energy Emissions Corp. (MEEC) announces the facilitation of the sale of an initial block of shares for its principal financial partner, resulting in a credit of $960,000 against the outstanding principal balance of an unsecured note.

How much credit is Midwest Energy Emissions Corp. (MEEC) receiving against the outstanding principal balance?

Midwest Energy Emissions Corp. (MEEC) is receiving a credit of $960,000 against the remaining outstanding principal balance of the unsecured note held by its principal financial partner.

What benefits does the company receive from selling certain shares of common stock held by the lender?

The company receives dollar for dollar credits based on the amount received by the lender from the sale of certain shares of common stock held by the lender.

What recent event led to the credit announcement by Midwest Energy Emissions Corp. (MEEC)?

The recent private sale of certain restricted shares held by the lender to unaffiliated third parties led to the credit announcement by Midwest Energy Emissions Corp. (MEEC).

What is CEO Richard MacPherson's stance on the debt reduction benefits?

CEO Richard MacPherson highlights the millions of dollars of benefits immediately provided by the restructured debt arrangement with the financial partner and the additional reduction of $960,000 in the remaining outstanding principal balance owing as a result of the private sale of restricted stock.

What is Midwest Energy Emissions Corp. (MEEC) committed to regarding its debt obligations with the lender?

Midwest Energy Emissions Corp. (MEEC) remains committed to further reducing and ultimately eliminating any remaining debt obligations with the lender.