Trading Symbol: MCV
TORONTO, March 9 /CNW/ - McVicar Resources Inc. ("McVicar") is pleased to
announce that it has arranged a non-brokered private placement for gross
proceeds of approximately 16,000,000 RMB (approx. $2.5 million CDN). The
offering, priced at $0.90 per share, will result in the issuance of
approximately 2,700,000 common shares of McVicar.
Proceeds from the offering will be used to complete the remaining payment
to the Shareholders of McVicar (Hong Kong) Advanced Materials Co. Ltd. ("MAM")
as announced in the press release dated February 23, 2007. The common shares
will be subject to a six-month hold period upon closing of the private
placement. A finder's fee will be paid in connection with the private
placement. The offering is subject to approval by the TSX Venture Exchange.
McVicar is a TSX Venture Exchange listed company engaged in mineral
exploration, chemical production and the technology industry. Most of its
business activities are focused in China.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for this news release.
For further information:
For further information: please contact Dr. Gang Chai at: 55 University
Avenue, Suite 605, Toronto, ON, M5J 2H7, Tel: (416) 366-7420, Fax: (416)