Trading Symbol: MCV
TORONTO,
Aug. 13, 2013 /CNW/ - McVicar
Industries Inc. ("McVicar") reports that the production facilities
of its wholly owned chemical subsidiary Zhejiang Hongbo Chemical
Co. Ltd. ("Hongbo") have been wrongfully and illegally occupied by
the factory managers and staff. The factory managers and
staff formed a coalition and denied McVicar's local representatives
access to the factory after the Company determined to temporarily
suspend Hongbo's production as announced in the previous press
release dated on August 2, 2013.
Leaders of the occupying group have not communicated any demands or
conditions for the cessation of their illegal occupation.
McVicar regrets that to date it has not received
meaningful support from local government and law enforcement
authorities to regain lawful possession and control of the Hongbo
factory. Moreover, the pursuit of legal remedies through the
local court system has not, as yet, yielded any positive
results. McVicar is vigorously pursuing all available avenues
of redress.
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.