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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 Signs Letter of Intent to Provide 200 MMcf/Day of Natural Gas to J&E Administration Integral, S. De. L. De C.V. in Mexico

08/27/2020 | 01:00pm EST

SAN ANTONIO, Aug. 27, 2020 (GLOBE NEWSWIRE) -- MIRAGE ENERGY CORPORATION, www.mirageenergycorp.com (OTC Pink: MRGE), announces it has signed a letter of intent (LOI) to provide 200 Million cubic feet per day (MMcf/d) of natural gas to J&E administration Integral, S. de. L. de C.V. (J & E), which is developing a natural gas transportation system in the Mexican states of Oaxaca and Chiapas.

The new transportation system on the west coast of southern Mexico will be interconnected via the San Fernando/Cactus Line, which Mirage is planning to rehabilitate as part of its large-scale cross-border infrastructure project funded by a binding $4 Billion financing agreement with Bluebell International, announced in June.

“We are proud to partner with J&E on this important project, which will enable the delivery of clean, efficient natural gas to the energy-starved states of Oaxaca and Chiapas, likely at a 50% discount to current prices,” said Michael Ward, President and CEO of Mirage Energy.   

Separately, Ward added that Mirage has officially converted and repaid all notes related to the business.

About Mirage Energy Corporation:
Mirage Energy Corporation (OTC Pink: 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 and Cenote Energy, 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 (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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d15cd041-5c71-478c-a00a-215521dbe4f6

Primary Logo

Map of the San Fernando/cactus Natural Gas Pipeline System

Mirage Energy is planning to rehabilitate the San Fernando/Cactus Line, map shown here, as part of its large-scale cross-border natural gas infrastructure project.

© 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 174 M 174 M -
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 5
Free-Float 48,5%
Chart MIRAGE ENERGY CORPORATION
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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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