Trading Symbol: MCV
TORONTO,
Aug. 27, 2013 /CNW/ - McVicar
Industries Inc. ("McVicar") reports that the production facilities
of its wholly owned chemical subsidiary Zhejiang Hongbo Chemical
Co. Ltd. ("Hongbo") continues to be illegally occupied by the
factory managers and staff as announced in the previous press
release dated on August 13, 2013.
Currently, the local government authorities, upon the requests of
the Company, have been involved in the negotiation with the
occupying group. However, leaders of the occupying group have still
not communicated any meaningful demands or conditions for the
cessation of their illegal occupation.
McVicar has continued in its efforts with local
government and law enforcement authorities to regain lawful
possession and control of the Hongbo factory. McVicar has
also contacted the Canadian Embassy in China and the Trade Commissioner's office in
Shanghai for assistance. McVicar
continues to pursue various venues to rectify the issues and regain
the Hongbo factory as the event has impacted the continuation of
Hongbo's business.
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.
Neither the TSX Venture Exchange Inc. nor its
regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts
responsibility for the adequacy or accuracy of this release.
SOURCE McVicar Industries Inc.