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:
| Date |
No. of Shares |
% of issued shares |
| Oct. 4, 2013 |
50,000 |
0.14% |
| Oct. 24, 2013 |
47,000 |
0.13% |
| Oct. 25, 2013 |
2,000 |
0.01% |
| Dec. 5, 2103 |
88,000 |
0.25% |
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.
About McVicar
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.
Forward-Looking Statements
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.