TORONTO, Aug. 5, 2015 /CNW/ - Boyuan Construction Group, Inc. ("Boyuan" or the "Company") (TSX: BOY, BOY.DB.A), a growing construction company in China of commercial, residential and municipal infrastructure projects, wishes to remind the holders of its 11.5% convertible unsecured subordinated debentures due October 31, 2018 (the "Debentures") that the cut-off date for receipt of retraction requests by Boyuan and the trustee for the first retraction right is August 31, 2015, although Debenture holders should consult with their financial advisors as some may have an earlier internal cut-off date. Debentures surrendered for retraction will be retracted on October 31, 2015 at a price equal to the principal amount plus unpaid interest accrued to October 30, 2015, with a record date of August 31, 2015.
The maximum aggregate principal of Debentures to be retracted on October 31, 2015 is $5,000,000, which will be allocated on a pro rata basis if retraction request exceed the maximum amount.
About Boyuan Construction Group, Inc.
Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2014, Boyuan completed 45 projects for a number of private and public sector clients. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com.
Caution Regarding Forward-Looking Information:
Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. When used in this press release, such statements may use such words as ''may'', ''will'', ''expect'', ''believe'', ''plan'' and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward looking information in this press release includes, but is not limited to, managements plan to repay Debentures surrendered for retraction and the expected price and date for repayment; expected record date for retraction; and management's plan to allocated the retraction amount on a pro rata basis if the requested retraction amount exceeds the maximum amount. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the Company's AIF for the fiscal year ended June 30, 2014 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.
SOURCE Boyuan Construction Group, Inc.