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News: W2 Energy Incs CEO converts Common to Preffered Shares


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Tuesday , February 27, 2007 08:49ET

Feb 27, 2007 (M2 PRESSWIRE via COMTEX) -- NEW YORK, NEW YORK: W2 Energy Inc. a developer of Green Energy, is pleased to announce that its principal shareholder Premier Capital which is controlled by Mr. Michael McLaren the principal member of the Company's management and who holds approximately 44.75% of WWEN's common stock, has agreed to convert their shares into 42,000,000 Class A Preferred Shares. This was done in order to lower the number of the Company's issued and outstanding common shares. The Preferred Shares will have voting rights, no dividend rights and are convertible into common shares on the earlier of either a change in control (including any merger) or two years from the issuance date of the Preferred Shares. The common stock owned by Premier Capital would have become freely trading within the next 60 days.

Mr. Michael McLaren, President and CEO of WWEN stated, "This conversion to preferred stock shows the support and confidence that management has in the execution of the Company's business plan. We hope and expect that the investment community acknowledges management's commitment to the Company's long-term prospects by taking this action."

About W2 Energy Inc.

W2 Energy Inc. is a growing, publicly traded company on the OTC (Symbol WWEN) that develops renewable energy technologies and applies it to new generation electrical power systems. Specifically, W2 Energy Inc. produces Green Power utilizing its core-patented technologies to produce green power generating and clean transportation fuel plants utilizing biomass and GTL technologies. W2 Energy Inc. has seasoned management and cutting edge technology. W2 Energy Inc. owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial production.

Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.

CONTACT: W2 Energy Inc. Tel: [phone] WWW: http://www.w2energy.com

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