McVicar reports continued occupation of Hongbo factory
Trading Symbol: MCV
TORONTO, Aug. 27, 2013 /CNW/ - McVicar Industries Inc. ("McVicar") reports that the production facilities of its wholly owned chemical subsidiary Zhejiang Hongbo Chemical Co. Ltd. ("Hongbo") continues to be illegally occupied by the factory managers and staff as announced in the previous press release dated on August 13, 2013. Currently, the local government authorities, upon the requests of the Company, have been involved in the negotiation with the occupying group. However, leaders of the occupying group have still not communicated any meaningful demands or conditions for the cessation of their illegal occupation.
McVicar has continued in its efforts with local government and law enforcement authorities to regain lawful possession and control of the Hongbo factory. McVicar has also contacted the Canadian Embassy in China and the Trade Commissioner's office in Shanghai for assistance. McVicar continues to pursue various venues to rectify the issues and regain the Hongbo factory as the event has impacted the continuation of Hongbo's business.
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.For further information:
Ms. eXavier Peterson or Dr. Gang Chai, CEO at: 55 University Avenue, Suite 605, Toronto, ON,
Tel: 416 366-7420 Fax: 416 366-7421 email: email@example.com