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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Mirage Energy Corporation    MRGE

MIRAGE ENERGY CORPORATION

(MRGE)
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Mirage Energy Corporation Signs New Agreement With Northern Hemisphere Logistics, S. A. P. I. de C. V. Increasing Participation in Development of Isthmus Corridor Project

07/09/2020 | 07:01am EST

SAN ANTONIO, July 09, 2020 (GLOBE NEWSWIRE) -- MIRAGE ENERGY CORPORATION, www.mirageenergycorp.com (OTC Pink: MRGE), announces it has signed a new agreement with NORTHERN HEMISPHERE LOGISTICS to increase its participation in the development of Northern Hemisphere’s Isthmus Corridor Project. The signing of this new agreement gives Mirage the right to participate for 50% of the project, an increase from 30% in the original agreement announced on March 16, 2020. The total estimated cost for the project is $2.0 Billion USD.

The Isthmus Corridor project consists of a series of pipelines and storage facilities in Mexico connecting the Port of Pajaritos on the Gulf of Mexico side to Salina Cruz on the Pacific side. The pipelines will provide a faster, more economical means of delivering crude oil and refined products from the U.S. to Asia, Mexico and the west coast of the U.S. compared to using the Panama Canal or the Cape Horn route, saving up to 36 days of true shipping time.

Images associated with this release are available at the following: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/5f4130e5-534f-499a-a570-4161259b2c5f

https://www.globenewswire.com/NewsRoom/AttachmentNg/85cd3f24-2dd1-489e-966c-549f8c2f67ea

https://www.globenewswire.com/NewsRoom/AttachmentNg/c24cc3fc-382c-4f76-a3ea-29127da017ed

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/ec4a927c-923a-4335-91e2-617a845031d7

About Mirage Energy Corporation

Mirage Energy Corporation (mrge) is a natural gas storage and international transportation company based in San Antonio, Texas. Through its wholly owned subsidiaries, Northern Hemisphere Logistics, Inc., WPF Transmission, Inc., WPF Mexico Pipelines, Cenote Energy, Project Consulting Services and Arendal, Mirage is developing an integrated pipeline infrastructure in and between Mexico and the U.S. and North America’s largest natural gas storage facility, located in Mexico. Founded in 2014 as Bridgewater Platforms Inc., the company changed its name to Mirage Energy Corporation in November 2016 (http://www.mirageenergycorp.com).

FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements. These statements relate to future financial performance. We intend that such forward-looking statements be subject to the safe harbors for such statement. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgement as to what may occur in the future. However, forward-looking statements are subject to risk, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected.

Media Contact:
Brian Hyland, 212-805-3055
Bhyland@rubensteinpr.com                                           

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Distance to Asia: Panama vs Isthmus

Chart depicting distance to various ports in Asia via the Pacific side of the Panama Canal compared to the Tehuantepec Interoceanic Isthmus Corridor
Distance from EU and USA to Panama Canal vs Isthmus Corridor

Chart comparing distance from various ports in Europe and the Eastern U.S. to the Atlantic side of the Panama Canal and the Tehuantepec Interoceanic Isthmus Corridor
Description of the Interoceanic Corridor of the Tehuantepec Isthmus

Full description of the Interoceanic Hydrocarbons Crossing System via the Interoceanic Corridor of the Tehuantepec Isthmus
Map of shipping routes via Panama Canal vs Isthmus

Map depicting various route options between the Eastern & Western Hemispheres via the Panama Canal and the Tehuantepec Isthmus Corridor

© GlobeNewswire 2020
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Financials (USD)
Sales 2020 - - -
Net income 2020 -5,35 M - -
Net Debt 2020 0,24 M - -
P/E ratio 2020 -14,5x
Yield 2020 -
Capitalization 170 M 170 M -
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 5
Free-Float 48,5%
Chart MIRAGE ENERGY CORPORATION
Duration : Period :
Mirage Energy Corporation Technical Analysis Chart | MRGE | US60463B1098 | MarketScreener
Income Statement Evolution
Managers and Directors
NameTitle
Michael R. Ward Chairman, President, CEO, CFO & CAO
Soll Sussman Director
Alejandro Amelio Director
Patrick C. Dosser Vice President
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