ME2C® Converts $900K of Convertible Debt to Common Stock

Rhea-AI Summary

Midwest Energy Emissions Corp. (OTCQB: MEEC) has announced that approximately 90% of its outstanding principal on 2013 Convertible Promissory Notes, totaling $900,000, will be converted into shares of common stock. This move is aimed at strengthening its balance sheet and enhancing shareholder value, as stated by President Richard MacPherson. The conversion reflects robust support from shareholders and positions the company for future growth in the environmental technologies sector.

Positive

• 90% of $900,000 convertible promissory notes converted into common stock, strengthening the balance sheet.
• Demonstrates strong support from shareholders, indicating investor confidence in the company's future.

Negative

• None.

The Company Retires Debt & Strengthens Balance Sheet

CORSICANA, TX, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME₂C" or the “Company”), a leading environmental technologies firm today announced that holders of approximately 90% of the outstanding principal on its 2013 Convertible Promissory Notes have agreed to convert their Notes into ME₂C shares.

The Company indicated that a total of $900,000 of outstanding principal has been voluntarily converted into shares of the Company’s common stock.

Richard MacPherson, President of ME₂C, commented “We’re pleased to be able to announce this debt conversion which demonstrates strong support from the Company’s shareholders. We look forward to strengthening our balance sheet as we increase shareholder value through this year.”

About Midwest Energy Emissions Corp. (ME₂C^®)

Midwest Energy Emissions Corp. (OTCQB: MEEC) is a leading environmental technologies company delivering patented and proprietary solutions to the global power industry. ME₂C’s leading-edge technologies 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. For more information, please visit www.midwestemissions.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. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. ME2C 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’s periodic filings with the Securities and Exchange Commission.

ME₂C Contact:
Stacey Hyatt
Corporate Communications
Midwest Energy Emissions Corp.
Main: 614-505-6115 x-1001
Direct: 404-226-4217
shyatt@midwestemissions.com

Investor Relations Contact:
Greg Falesnik or Brooks Hamilton
MZ Group - MZ North America
949-546-6326
MEEC@mzgroup.us
www.mzgroup.us

 

FAQ

What recent financial action has MEEC taken regarding its convertible promissory notes?

MEEC has announced the conversion of 90% of its 2013 Convertible Promissory Notes, amounting to $900,000, into common stock.

How does MEEC's debt conversion impact its balance sheet?

The conversion of debt into shares strengthens MEEC's balance sheet, improving its financial position.

What does the shareholder support signify for MEEC?

The high conversion rate of promissory notes into shares indicates strong shareholder support and confidence in MEEC's future growth.

What is the stock ticker symbol for Midwest Energy Emissions Corp.?

The stock ticker symbol for Midwest Energy Emissions Corp. is MEEC.