Trading Symbol: MCV
TORONTO,
Jan. 20, 2014 /CNW/ - McVicar
Industries Inc. (TSXV: MCV) announces the closing on of the sale,
previously announced on December 17,
2014, of its wholly-owned subsidiary Zhejiang Hongbo
Chemical Co., Ltd. ("Hongbo") to a private, Hong Kong company formed by a group of
investors (the "Buyer"), who are also the former shareholders of
Hongbo.
Upon closing, McVicar received approximately 6.8
million common shares of McVicar which have now been
cancelled. These shares were originally received by the Buyer
upon its original acquisition of Hongbo in 2007. After giving
effect to this transaction there are 28,787,520 common shares
outstanding.
About McVicar
McVicar Industries Inc., headquartered in Toronto, Canada, is focused on investments and
acquisitions of businesses in China. At present, McVicar is focusing on its
operations in electronic components in China.
Forward-Looking Statements
Information set forth in this news release may involve
forward-looking statements under applicable securities laws. The
forward-looking statements contained herein are expressly qualified
in their entirety by this cautionary statement. The forward-looking
statements included in this document are made as of the date of
this document and the Company disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable securities legislation. Although
Management believes that the expectations represented in such
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. This
news release does not constitute an offer to sell or solicitation
of an offer to buy any of the securities described herein and
accordingly undue reliance should not be put on such.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE McVicar Industries Inc.