Trading Symbol: MCV
TORONTO, Jan. 24, 2014 /CNW/ - McVicar Industries Inc. (TSX-V "MCV")
announces that its chief executive officer, Dr. Gang Chai, has acquired
control, through a controlled corporation, of the number of common
shares of McVicar set opposite such dates:
No. of Shares
% of issued shares
Oct. 4, 2013
Oct. 24, 2013
Oct. 25, 2013
Dec. 5, 2103
And now holds or exercises control over 3,713,593 common shares
amounting to 10.42% of the issued common shares of McVicar.
Due to the cancellation of 6,839,800 of its common shares, as a result
of the closing of the sale of McVicar's wholly-owned subsidiary
Zhejiang Hongbo Chemical Co., Ltd. (announced on January 20, 2014), the
percentage holdings of McVicar common shares by Dr. Chai increased from
10.42% to 12.90%.
The change in Dr. Chai's percentage shareholding in McVicar was as a
result of the Hongbo transaction and not as a result of any action by
Dr. Chai and no consideration was paid to him for same. Dr. Chai
intends to hold its shares for investment purposes.
McVicar Industries Inc., headquartered in Toronto, Canada, is focused on
investments and acquisitions of businesses in China. At present,
McVicar has operations in both electronic components and specialty
chemicals in four operations in China.
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.
For further information:
Ms. eXavier Peterson or Gang Chai, CEO at: 11 Progress Avenue, Unit 25, Toronto, ON M1P 4S7 Tel: (416)366-7420 Fax (416)298-0244 www.mcvicar.ca