Trading Symbol: MCV
TORONTO, July 30 /CNW/ - McVicar Resources Inc. (the "Company",
"McVicar") (TSXV: MCV) wishes to announce that it has closed the acquisition
previously announced on June 4, 2008 and June 12, 2008. The Company will issue
5,239,800 units of the Company at a price of $1.40 per unit to Shining Palace
Holding Co. Ltd for a 39.5% equity interest in McVicar (Hong Kong) Advanced
Materials Co. Ltd. ("MAM"). Each unit consists of one common share and
one-half of one common share purchase warrant. Each whole warrant is
exercisable into one common share until July 30, 2010 at an exercise price of
$1.85 per share.
This acquisition increases McVicar's interest in MAM from 51% to 90.5%.
The units were issued pursuant to applicable prospectus and registration
exemptions and are subject to a four-month hold period.
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.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Ms. eXavier Peterson at: 55 University Avenue,
Suite 605, Toronto, ON, M5J 2H7, Tel: (416) 366-7420, Fax (416) 366-7421,