McVicar acquires remaining minority interest in its Hongkong subsidiary
Trading Symbol: MCV
TORONTO, Jan. 7 /CNW/ - McVicar Industries Inc. ("McVicar") announces
that its Hong Kong subsidiary, McVicar (Hongkong) Advanced Materials Co.
Ltd.
("MAM"), has reached an agreement with Sanlong Holdings Co. Ltd. ("Sanlong")
to exchange Sanlong's 9.5% equity interest in MAM for a 38% equity interest
in
MAM's subsidiary Hangzhou Changlong Chemical Co. Ltd. ("Changlong"). As a
result of this transaction, McVicar's interest in MAM will be increased from
90.5% to 100% while MAM's interest in Changlong will go from 100% to 62%.
Completion of this transaction is subject to applicable regulatory
approval.
About McVicar:
Headquartered in Toronto, Canada, McVicar Industries Inc. is focused on
the specialty chemical business through interests in companies operating in
the People's Republic of China. McVicar's operating companies include:
Zhejiang Hongbo Chemical Co. Ltd., Hongzhou Changlong Chemical Co. Ltd., and
Jiangsu Luyuan Chemical Co. Ltd., all of which are specialty chemical
companies serving the personal care, pharmaceutical and industrial markets.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for this news release.
For further information: please contact Ms. Exavier Peterson at: 55
University
Avenue, Suite 605, Toronto, ON, M5J 2H7, Tel: (416) 366-7420, Fax (416)
366-7421, www.mcvicar.ca
.
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McVicar Industries Inc.
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CODE : MCV.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
McVicar is a gold exploration company based in Canada. McVicar holds various exploration projects in Canada and in China. Its main exploration properties are SHIBADOUGOU and DONGSHENG in China and KASAGIMINNUS LAKE in Canada. McVicar is listed in Canada. Its market capitalisation is CA$ 14.1 millions as of today (US$ 12.9 millions, € 9.3 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 2.70, and its lowest recent point on October 04, 2013 at CA$ 0.16. McVicar has 28 790 000 shares outstanding. |