TORONTO,
May 5, 2014 /CNW/ - McVicar
Industries Inc. ("McVicar") (TSXV symbol MCV) announces that
its amalgamation (the "Amalgamation") with 1909734 Ontario
Limited, a wholly owned subsidiary of GC Consulting &
Investment Corp. ("GCCI"), a corporation controlled by Dr.
Gang Chai, McVicar's chief executive officer, to form a new
corporation ("Amalco") named McVicar Industries Inc. which
will be a wholly owned subsidiary of GCCI. The Amalgamation
became effective April 30, 2014.
McVicar has now provided funds to TMX/CDS to pay the
$0.50 per share redemption
entitlement to former non-registered beneficial holders of McVicar
shares (other than shares held by dissenting shareholders, GCCI and
related parties which have been cancelled). Funds should be
credited to the accounts of such former shareholders within the
next few days.
Registered shareholders should complete the Letter of
Transmittal, which accompanied the management information circular
which was mailed in respect to the April
29th meeting, and send it to McVicar at the
address below along with the certificates representing their
shares. Upon receipt of the properly completed letters of
transmittal and share certificates, payment of the redemption
entitled will be forwarded by cheque. Any registered
shareholders requiring assistance with this process may call
McVicar at 416 366-7420 or email to info@mcvicar.ca.
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
electronic components in several operations in China.
This news release contains forward-looking information which is
not comprised of historical facts. Forward-looking information
involves risks, uncertainties and other factors that could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. The words "may", "will", "could",
"should", "would", "believe", "plan", "anticipate", "estimate",
"expect", "intend", and "objective" (or the negatives thereof), and
words and expressions of similar import, are intended to identify
forward-looking information, which may include statements made in
this news release regarding the Amalgamation, shareholder and
regulatory approvals, and McVicar's plans following completion of
the Amalgamation. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, inability to obtain shareholder and/or regulatory
approval of the Amalgamation, the Amalgamation not being completed
for any other reason, and receipt by the Special Committee of an
unfavourable formal valuation and/or fairness opinion. McVicar
believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable,
for example, that McVicar will obtain all necessary approvals for
the Amalgamation, the Merger Agreement will not be terminated, and
the Amalgamation will be completed as currently contemplated.
Nevertheless, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. McVicar disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by applicable securities
laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE McVicar Industries Inc.