TORONTO, Dec. 18, 2018 /CNW/ - Boyuan Construction Group,
Inc., (TSX: BOY) ("Boyuan" or the "Company") today
announced that the C$2.9 million
previously remitted to the trustee for the Company's 11.5%
unsecured convertible debentures due on October 31, 2018 (the "Unsecured
Debentures"), will be distributed by the trustee to holders of
the Unsecured Debentures on December 21,
2018.
More specifically, the trustee will pay the holders the
outstanding interest amount due at maturity and the interest
accrued on the unpaid principal and unpaid interest from
October 31 to December 20, 2018, and
approximately C$2.5 million of the
principal.
Moreover, the Company expects to remit approximately
C$2.6 million of the remaining
balance to the trustee by December 21,
2018, and remit the remaining balance due by the end of
December.
About Boyuan Construction Group, Inc.
Backed by a longstanding track record, Boyuan Construction
Group, Inc. ("Boyuan" or the "Company") has the
knowledge and expertise to design and build a wide range of
commercial and residential developments, as well as municipal
infrastructure and engineering projects. Based in Jiaxing City and
with a growing presence in both Zhejiang
Province and Hainan
Province, Boyuan focuses on construction projects in
China's fast-growing regions of
the Yangtze River Delta and the Hainan
Province. The Company's current project backlog includes
residential, commercial, industrial and mixed-use developments. For
more information visit www.boyuangroup.com.
Caution Regarding Forward-Looking Information:
Certain information contained in this news release constitutes
forward-looking information, which is information relating to
future events or the Company's future performance and which is
inherently uncertain. All information other than statements of
historical fact may be forward-looking information. Forward-looking
information is often, but not always, identified by the use of
words such as "seek", "anticipate", "budget", "plan", "continue",
"estimate", "expect", "forecast", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe" and similar words or phrases (including
negative variations) suggesting future outcomes or statements
regarding an outlook. Forward-looking information contained in this
news release includes, but is not limited to, management's
expectation on remitting funds to Canada and estimated timing and amounts for
the remittances. Forward-looking information involves known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking information. The Company
believes the expectations reflected in the forward-looking
information are reasonable but no assurance can be given that these
expectations will prove to be correct and readers are cautioned not
to place undue reliance on forward-looking information contained in
this news release. Some of the risks and other factors which could
cause results to differ materially from those expressed in the
forward-looking information contained in this news release include,
but are not limited to: political and economic conditions in
China and other risks included in
the Company's AIF for the fiscal year ended June 30, 2018 and in the Company's public
disclosure documents filed with certain Canadian securities
regulatory authorities and available at www.sedar.com. The
forward-looking statements contained in this news release are made
as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking information, whether
as a result of new information, future events or otherwise, except
as otherwise required by law.
SOURCE Boyuan Construction Group, Inc.