Trading Symbol: MCV
TORONTO,
Oct. 18, 2013 /CNW/ - McVicar
Industries Inc. ("McVicar", the "Company") reports that the Company
has been granted access to the production facilities of its wholly
owned chemical subsidiary, Zhejiang Hongbo Chemical Co. Ltd.
("Hongbo"), through the involvement of various levels of local
governments. As announced in the Company's October 9, 2013 press release, the facility had
been wrongfully occupied by the factory managers and staff.
McVicar has formed a new Hongbo management team
drawn from its other subsidiaries to begin working in the facility
although intense resistance continues from the original management
and related staff. McVicar has hired a local audit company to start
an initial assessment of the facilities. McVicar continues to
negotiate for the return of full control of the operation.
This press release contains forward-looking statements which
reflect the Corporation's current expectations regarding future
events. The forward-looking statements involve risks and
uncertainties. Actual results could differ materially from
those projected herein. Although we believe that our expectations
are based on reasonable assumptions, we can give no assurance that
our expectations will materialize.
Neither the TSX Venture Exchange Inc. nor its
regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE McVicar Industries Inc.