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2008

Dec 22 MCVICAR ANNOUNCES ENGAGEMENT OF MCGOVERN, HURLEY, CUNNINGHAM, LLP

Dec 12 CHANGLONG RESUMES PRODUCTION

Nov 28 MCVICAR ANNOUNCES THIRD QUARTER RESULTS

Oct 20 CHANGLONG CHANGES GENERAL MANAGER

Oct 06 McVICAR ISSUES STOCK OPTIONS

Oct 02 McVICAR WITHDRAWS FROM JOINT VENTURE IN SINO LION

Sep 04 McVICAR ANNOUNCES NAME CHANGE TO McVICAR INDUSTRIES INC

Sep 02 McVICAR ANNOUNCES Q2 RESULTS

Aug 13 McVICAR ANNOUNCES MILLION DOLLAR NEW ORDER

Aug 01 McVICAR APPOINTS NEW CHIEF FINANCIAL OFFICER

July 30 McVICAR ANNOUNCES CLOSING OF ACQUISITION

June 27 McVICAR SHAREHOLDERS ELECT NEW DIRECTOR AND APPROVE NAME CHANGE

June 16 McVICAR ACQUIRES INTEREST IN McVICAR (HONGKONG) ADVANCED MATERIALS CO. LTD. WITH EQUITY PAYMENT AND DIRECTOR RESIGNS TO AVOID APPEARANCE OF CONFLICT OF INTEREST

June 04 McVICAR ACQUIRES MINORITY INTEREST IN ITS HONGKONG SUBSIDIARY FROM SHINING PALACE HOLDING CO. LTD.

June 02 McVICAR ANNOUNCES FIRST QUARTER RESULTS

May 30 McVICAR ANNOUNCES CLOSING OF PRIVATE PLACEMENT

May 27 McVICAR ANNOUNCES REPRICING OF PRIVATE PLACEMENT

May 16 McVICAR ANNOUNCES FILING OF FISCAL 2007 YEAR END FS RESULTS AND MD&A

May 05 McVICAR FURTHER UPDATES DELAY IN FILING ANNUAL FS AND MD&A

May 01 McVICAR ANNOUNCES DELAY IN FILING ANNUAL FINANCIAL STATEMENTS AND MD&A

Apr. 25 McVICAR ANNOUNCES PRIVATE PLACEMENT

Apr. 21 McVICAR ANNOUNCES CLOSING OF LUYUAN ACQUISITION

Apr. 01 McVICAR TO DEVELOP GREEN PESTICIDE PRODUCTS WITH AUSTRALIAN COMPANY

Mar. 26 McVICAR PRODUCT SELECTED BY NATIONAL TORCH PLAN OF CHINA

Mar. 11 McVICAR ANNOUNCES NEW ACQUISITION

Feb. 11 McVICAR CANCELS PRIVATE PLACEMENT

Jan. 14 McVICAR SIGNS LETTER OF INTENT TO ACQUIRE REMAINING 49% OF MCVICAR (HONGKONG) ADVANCED MATERIALS LTD.

Jan. 09 McVICAR ANNOUNCES $15 MILLION PRIVATE PLACEMENT

Jan. 03 McVICAR ANNOUNCES $2.5 MILLION ORDER FOR AN AMERICAN CUSTOMER

 

McVICAR INDUSTRIES INC.
PRESS RELEASE
December 22, 2008
Trading Symbol: MCV

MCVICAR ANNOUNCES ENGAGEMENT OF MCGOVERN, HURLEY, CUNNINGHAM, LLP McVicar Industries Inc. ("McVicar") is pleased to announce that it has engaged McGovern, Hurley, Cunningham LLP (MHC) as auditors. MHC provides services to both private and public companies.

McVicar would like to thank Deloitte & Touche LLP for their past year of service and wish them future success.

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McVICAR INDUSTRIES INC.
PRESS RELEASE
December 12, 2008
Trading Symbol: MCV

CHANGLONG RESUMES PRODUCTION: McVicar Industries Inc. ("McVicar") announces that Hangzhou Changlong Chemical Co. Ltd. ("Changlong"), a McVicar China subsidiary, resumed production after it had been partially stopped due to an accident as reported in the Oct. 20, 2008 press release.

Changlong is a specialized developer and manufacturer of chemical intermediates for the pharmaceutical market. The main products are piperazine and pyridine derivatives. McVicar's chemical subsidiary, McVicar (Hongkong) Advanced Materials Co. Ltd. ("MAM") acquired 100% interest in Changlong in October, 2007. McVicar is a TSX Venture Exchange listed company engaged in industrial chemical production and distribution. The majority of McVicar's
business activities are focused in China.
 

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McVICAR INDUSTRIES INC.
PRESS RELEASE
November 28, 2008
Trading Symbol: MCV

MCVICAR ANNOUNCES THIRD QUARTER RESULTS: McVicar Industries Inc. ("McVicar" or the "Company") is pleased to announce that it has filed its interim financial statements and management's discussion and analysis (MD&A) for the third quarter ended September 30, 2008. The detailed financial statements and MD&A can be found on www.sedar.com . All amounts are in Canadian dollars unless otherwise noted.

     -   Holding interest in MAM increased to 90.5% from 51%.

     -   Quarterly consolidated revenues grew 19 percent year over year to
         $9.5 million.

     -   Quarterly consolidated net income grew 209 percent year over year to
         $0.77 million

     -   Revenues from chemical business grew 77 percent year over year to
         $5.2 million.

     Third quarter financial results:

     -   Consolidated revenues totaled $9.5 million, representing a 19%
         increase from the same period last year and a 5% drop from previous
         quarter. This year-over-year increase was due primarily to
         significantly increases from the Chemical business.

     -   Revenues from the chemical business totaled $5.2million, representing
         a 77% increase from the same period last year and an 8% drop from
         previous quarter. This year-over-year increase was due to both steady
         organic growth from Hongbo and new acquisitions.

     -   Revenues from technical business totaled $4.3 million. This was a
         drop of 16% and 7% from the same period last year and the previous
         quarter, respectively. This decline was due primarily to a massive
         slowdown in US building and real estate markets, and thus reduced
         demand for its security products.

     -   Consolidated gross profit margin was 23%, compared to 25% for the
         same period in 2007 and 27% for the pervious quarter. The decline in
         gross margin was due primarily to the margin shrinking in both
         technical and chemical products, which was caused by a number of
         factors, including higher sales volume, product mix, overall increase
         in its raw material prices and labour cost.

     -   Operating expenses for the quarter were $1.37 million, compared to
         $1.35 million for the same period in 2007 and $1.6 million for the
         previous quarter. Operating expenses as a percentage of sales was
         14%, compared to 17% for the same period in 2007 and was 16% for the
         previous quarter. The decline in operating expenses as a percentage
         of sales was due primarily to tight cost control measures taken by
         the managements.

     -   Net income for the quarter was $773,970 or 0.02 per share, an
         increase of $523,340 from $250,630 or 0.01 per share for the same
         period in 2007. The significant year-over-year increases in net
         income are attributable partly to consecutive strong growth in sales
         of Company's chemical business, partly to the holding interest in
         chemical subsidiaries being increased to 90.5% from 51% in this
         quarter.

     Year-to-date financial results

     -   Total revenues for the first nine months of 2008 were $28.9 million,
         representing a 42% increase from $20.4 million for the first nine
         months of 2007.

     -   Total operating expenses for the first nine months of 2008 increased
         to $4.4 million, from $3.6 million for the first nine months of 2007
         as a result of increased in sales, but operating expenses as a
         percentage of sales for the first nine moths of 2008 declined to 15%
         from 18% for the first nine months of 2007 as a result of tight cost
         control.

     -   Net income for the nine months of 2008 was $1.4 million or $0.05 per
         share, compared to net income of $3.2 million or $0.14 per share for
         the same period of 2007. Net income before gain on disposal of equity
         investment (subsidiary) was $1.3 million (or 4% of sales) for the
         nine months of 2008, compared to $0.8 million (or 4%) of sales for
         the same period of 2007.

     Business highlights

     -   Holding interest in MAM increased to 90.5% from 51%. During the
         quarter, the Company increased its ownership interest in McVicar
         (Hong Kong) Advanced Materials Co. Ltd., ("MAM"), from 51% to 90.5%.
         The total consideration was satisfied by the issue of 5,239,800 units
         of the Company at an agreed issue price of $1.40 per unit, each unit
         consisted of one common share of McVicar and one-half of one common
         share purchase warrant. The fair value of share issued was
         $4.5 million, goodwill increased by $1.3 million, intangible assets
         increased by $ 0.4million and minority interest decreased by
         $2.8 million.

     -   Setting up China Operational Office in Hangzhou, China. During the
         quarter, the Company has chosen Hangzhou to set up our China
         operational office, McVicar (Hang Zhou) Management Co. Ltd.,
         ("McVicar (HZ)"), which was registered as a foreign wholly owned
         subsidiary of McVicar (Hong Kong) Advanced Materials Co. Ltd., with a
         total registered capital of USD$2 million (approximately
         CDN $ 2.4million).

     -   Disposal of 27% equity interest in Sino Lion. During the quarter, the
         Company divested its 27% equity interest in Sino Lion Nanjing Ltd.
         ("Sino Lion"), based in Nanjing, China. The transaction is valued at
         US$ 850,000 in cash consideration. As a result of this divestiture,
         we recorded a net disposal gain of $145,730.

     -   Name change. During the quarter, the Company changed its name to
         McVicar Industries Inc, but without any change to its trading symbol.
         The name change is more reflective of McVicar's business transition
         into industrial markets after 2007.

     -   JITE Completed 1 for 5 Share Consolidations. During the quarter,
         Jite, a 46.7%-owned subsidiary, consolidated the outstanding common
         shares at a ratio of 1 consolidated share for 5 pre-consolidated
         shares. The Company's holding interest in Jite remains unchanged
         after its share consolidations.

     "We are very proud of the operational results for both the three and the first nine months of 2008 given the current economic conditions." said Gang Chai, President & CEO of McVicar, "Our chemical business delivered a 165 percent growth in sales revenues and an 87.5 percent growth in net income for the nine months period on a year-over-year basis. This excellent result was
generated during a difficult global economic environment.
 

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McVICAR INDUSTRIES INC.
PRESS RELEASE
October 20, 2008
Trading Symbol: MCV

CHANGLONG CHANGES GENERAL MANAGER: McVicar Industries Inc. ("McVicar") announces
that the board of directors of Hangzhou Changlong Chemical Co. Ltd. ("Changlong"), a McVicar China subsidiary, has suspended the current general manager due to an accident in its plant. One employee was seriously injured and later died. The accident appears to be the result of the employee failing to follow proper working procedures. The board has appointed one of its
directors to be in charge of the daily operations. Production has also been stopped pending the results of investigations.

Changlong is a specialized developer and manufacturer of chemical intermediates for the pharmaceutical market. The main products are piperazine and pyridine derivatives. The company was founded in 1996 with about 100 employees. McVicar's chemical subsidiary, McVicar (Hongkong) Advanced Materials Co. Ltd. ("MAM") acquired 100% interest in Changlong in October, 2007. McVicar is a TSX Venture Exchange listed company engaged in industrial chemical production and distribution. The majority of McVicar's business activities are focused in China.

 

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McVICAR INDUSTRIES INC.
PRESS RELEASE
October 6, 2008
Trading Symbol: MCV

McVICAR ISSUES STOCK OPTIONS: McVicar Industries Inc. ("McVicar") announces
that it has granted incentive stock options in respect of 1,175,000 shares exercisable at $1.10 per share for a period of five years to directors, officers, employees and consultants of the Company.
 

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McVICAR INDUSTRIES INC.
PRESS RELEASE
October 2, 2008
Trading Symbol: MCV

McVICAR WITHDRAWS FROM JOINT VENTURE IN SINO LION: McVicar Industries Inc. (“McVicar” or the “Company”) announces that it has reached an agreement to sell its twenty-seven percent (27%) equity interest in Sino Lion Nanjing Ltd., a joint venture between McVicar and New York based Sino-lion (USA) Ltd. to develop, manufacture and market specialized chemicals in the personal care market. In the agreement, McVicar agrees to sell its 27% interest for a cash consideration of US $850,000 to one of the directors of Sino Lion (USA) Ltd. through a holding company.

Sino Lion Nanjing Ltd. was established to manufacture personal care products mainly to supply to customers in the United States. Due to the changes in the economic environment in the US, the potential major customer delayed its major orders indefinitely. The joint venture has not been able to achieve its expected results. As McVicar has acquired three China based chemical companies, the Company considers that it is in its best interest to sell the investment in Sino Lion and focus on the operations it has sole ownership or control interest of to fulfill its China growth strategy.

McVicar is a TSX Venture Exchange listed company engaged in industrial chemical production and distribution. The majority of McVicar’s business activities are focused in China.

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McVICAR INDUSTRIES INC.
PRESS RELEASE
September 4, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES NAME CHANGE TO McVICAR INDUSTRIES INC: McVicar Resources Inc. ("McVicar") has filed articles of amendment to change its name to McVicar Industries Inc.

"The name change to McVicar Industries Inc. is more reflective of McVicar's business in the industrial markets," said Gang Chai, President & CEO of McVicar.

McVicar shares will commence trading on September 8, 2008 under its new name but without any change to its trading symbol. Letters of Transmittal will be mailed to registered shareholders as soon as practicable inviting them to exchange their existing share certificates for certificates in the name of McVicar Industries Inc.

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McVICAR RESOURCES INC.
PRESS RELEASE
September 2, 2008
Trading Symbol: MCV

McVicar announces second quarter results:

 TORONTO, Sept. 2 /CNW/ - McVicar Resources Inc. ("McVicar" or the "Company") is pleased to announce that it has filed its interim financial statements and management's discussion and analysis (MD&A) for the second quarter ended June 30, 2008. The detailed financial statements and MD&A can be found on www.sedar.com. All amounts are in Canadian dollars unless otherwise noted.

     -   Quarterly consolidated revenues grew 64 percent year over year to $10.3 million.

     -   Revenues from chemical business grew 300 percent year over year to $5.6 million.

     -   Net income from chemical business grew 140 percent year over year to $1 million

     Second quarter financial results:

     -   Consolidated revenues increased to $10.3 million, or 64%, from the
         same period last year and 13% from the previous quarter. The
         consolidated revenue increase was due primarily to significantly
         steady increase from the Chemical business.

     -   Revenues from the chemical business increased to $5.6 million, from
         $1.4 million in the same period last year, an increase of nearly 300%
         and from $4.8 million in the previous quarter, an increase of 17%,
         marking the sixth consecutive quarter of revenues growth. The
         revenues increase was due to both steadily organic growth from Hongbo
         and new acquisitions.

     -   Revenues from technical business were $4.6 million. This was an
         increase of 9.5% from $4.2 million in the previous quarter, but a
         decline of 6% from the same period last year. The year-over-year
         revenue decline was due primarily to a massive slowdown in US
         building and real estate markets, and thus reduced demand for its
         security products.

     -   Consolidated gross profit margin was 27% and was equivalent to the
         same period last year, but declined 2% from 29.0% in the previous
         quarter. The slightly lower margin can be attributed to increase of
         raw materials and labour cost.

     -   Operating expenses for the quarter were $1.6 million compared to $1.4
         million in the previous quarter and $1.1 million in the same period
         last year. Operating expenses as a percentage of sales was 16% and
         was equivalent to the previous quarter, but slightly down from 18% in
         the same period last year.

     -   Net income for the quarter was $312,729, or $0.01 per share compared
         to net income (before gain on dilution of investment in subsidiary)
         $242,852, or $0.01 per share, for the same period last year and
         $327,775, or 0.01 per share, in the previous quarter.

     -   Net income (before non-controlling interest) attributable to chemical
         business for the quarter increased to $1 million, or 140%, from $0.4
         million for the same period last year.

     -   Net income (before non-controlling interest) attributable to
         technical business for the quarter increased to $71,554, from
         $6,654 for the sequential quarter, but declined 82% from $408,849
         for the same period last year. The year-over-year decline was due
         primarily to sales decline in US market and overall increase in its
         raw material prices and labour cost.

     Year-to-date financial results

     -   For the first six months of 2008, total revenues were $19.3 million,
         compared with total revenues of $12.4 million in the first six months
         of 2007.

     -   Total operating expenses for the first six months of 2008 were $3.1
         million, versus $2.3 million in the comparable period last year as a
         result of increases in sales, but operating expenses as a percentage
         of sales for the first six moths of 2008 declined to 16% from 18% for
         the first six months of 2007 as a result of tight cost control.

     -   Net income before gain on dilution of investment in subsidiary was
         $640,504 for the first six months of 2008, versus $565,703 for the
         first six months of 2007.

     Business highlights

     -   Acquisition of an 80% interest in Luyuan Chemical Co. Ltd.
         ("Luyuan"). On April 21, 2008, Hongbo, closed an acquisition of an
         80% interest in Luyuan Chemical Co. Ltd. ("Luyuan"). Luyuan is a
         manufacturer and supplier of specialized chemical products for
         industrial markets. One of Luyuan's main products is a key raw
         material for Hongbo's strategic DuPont project.

     -   Completion of a private placement. The Company completed a private
         placement of 2,183,073 common shares for gross proceeds of $3,056,302
         at a price of $1.40 per unit on May 30, 2008. Proceeds from the
         Offering will be used primarily to fund the acquisition and working
         capital needs for chemical business.

     -   Production expansion. At the end of June, 2008, Changlong completed
         the construction of a 20,000 tonnes per annum expansion facility on
         its current location for its chemical products, NEP (N-Ethyl-2-
         pyrrolidone) and NMP (N-methyl-pyrrolidone). This expansion will add
         20% more capacity to the production.

     -   Product innovation and development. In April 2008, Hongbo signed a
         letter of confidentiality with an Australian company to develop new
         pesticide products for agricultural use applying insect pheromone
         synthesis technology. The new products have the advantages of being
         highly efficient, non-toxic and have no environmental pollutants as
         compared to traditional chemical pesticides.

     "We are very proud to report six consecutive quarters of revenue and operating earnings growth," said Gang Chai, President & CEO of McVicar. "Our chemical business delivered a nearly 300 percent growth in sales revenues and 140 percent growth in net income. This excellent result was generated during a difficult global economic environment. We are confident that the Company will achieve excellent results this year with a firm backlog of orders and contribution from new acquisitions."
 

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McVICAR RESOURCES INC.
PRESS RELEASE
August 13, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES MILLION DOLLAR NEW ORDER: McVicar Resources Inc. ("McVicar") is pleased to announce that its Chinese subsidiary, Zhejiang Hongbo Chemical Co. Ltd. ("Hongbo") has received a new order from Zhejiang Huayi Pharmaceutical Co. Ltd. to supply one of its main intermediate chemicals for drugs. The order calls for 35 tonnes of the chemical at a price of over 200,000 Yuan per tonne for a total of ~7.2 million Yuan (~CND $1.05 million). Hongbo is required to deliver the full amount of the product in 3 months.

"We are very pleased with the new order from another Chinese pharmaceutical company", said Dr. Gang Chai, President & CEO of McVicar, "with the increased expansion of the domestic medical market, McVicar stands to benefit from its variety and quality of products".

Zhejiang Hongbo Chemical Co. Ltd. is a wholly owned Chinese subsidiary of McVicar (Hongkong) Advanced Material Co. Ltd. which is 90.5% owned by McVicar. Hongbo has developed over 30 advanced intermediate chemical products for the personal care, industrial and pharmaceutical industries with close corporation with the best chemical organization in China, the Shanghai Institute of Organic Chemistry under the China Academy of Sciences.
 

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McVICAR RESOURCES INC.
PRESS RELEASE
August 1, 2008
Trading Symbol: MCV

McVICAR APPOINTS NEW CFO: McVicar Resources Inc. (the "Company", "McVicar") is pleased to announce the appointment of Mr. Kevin Ming Zhang as Chief Financial Officer of the Company, subject to regulatory approval. Kevin Ming Zhang is a Certified General Accountant, a member of the Association of Chartered Certified Accountants (ACCA, U.K.), and a member of Chinese Institute of Certified Public Accountants. Mr. Zhang has been a senior accountant for McVicar since February 2007.

Prior to joining McVicar he was senior accountant with Hanfeng Evergreen Inc. (TSX "HF") for a half year, and has over 7 years of accounting and auditing experience in China with thorough knowledge of both Canadian GAAP and International Financial Reporting Standards (IFRSs). Mr. Zhang will be responsible for accounting, financial management and corporate compliance of
the Company.

Mr. Henry Tse has resigned as Chief Financial Officer of the Company and stays on as a director.

"I am delighted with the appointment of Mr. Kevin Ming Zhang to our senior management team." commented Dr. Gang Chai, President and CEO of McVicar Resources Inc. "Mr. Zhang has been working closely with our Chinese subsidiaries and his financial experience and expertise are of great value to McVicar for its continuing pursuit of growth in China."

McVicar Resources Inc. is listed on the TSX Venture Exchange (TSX.V "MCV"). The Company has various interests in the chemical and electronic industries in China.
 

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McVICAR RESOURCES INC.
PRESS RELEASE
July 30, 2008
Trading Symbol: MCV

McVICAR RESOURCES INC. ANNOUNCES CLOSING OF ACQUISITION: McVicar Resources Inc. (the "Company", "McVicar") (TSXV: MCV) wishes to announce that it has closed the acquisition previously announced on June 4, 2008 and June 12, 2008. The Company will issue 5,239,800 units of the Company at a price of $1.40 per unit to Shining Palace Holding Co. Ltd for a 39.5% equity interest in McVicar (Hong Kong) Advanced
Materials Co. Ltd. ("MAM"). Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share until July 30, 2010 at an exercise price of $1.85 per share.

This acquisition increases McVicar's interest in MAM from 51% to 90.5%.
The units were issued pursuant to applicable prospectus and registration exemptions and are subject to a four-month hold period.
 

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McVICAR RESOURCES INC.
PRESS RELEASE
June 27, 2008
Trading Symbol: MCV

McVICAR SHAREHOLDERS ELECT NEW DIRECTOR AND APPROVE NAME CHANGE: McVicar Resources Inc. ("McVicar") announces that at its Annual and Special meeting of shareholders held on June 25, 2008 Mr. Henry Tse, C.A. was elected a director of McVicar to fill the vacancy created by the resignation of Mr. Hongjie Kang (announced June 16, 2008). Also re-elected to the board of directors are Gang Chai, D. James Misener, Tony Naldrett and Raymond Morley. Mr. Tse is the current Chief Financial Officer of McVicar and its related company, Jite Technologies Inc.

McVicar also announces that at the Annual and Special meeting, shareholders authorized amendments to its articles of incorporation to change McVicar's name to "McVicar Industries Inc." or such other name as may be approved by applicable regulatory authorities. This name change reflects McVicar's business transition from a junior resources company to the present more broad industrial based business. McVicar will provide further information to shareholders following receipt of regulatory approvals.

About McVicar:
McVicar is a Canadian company with operations in China, mainly focusing on the specialty chemicals. The Company has three subsidiaries located in the east coast of China: Hongbo Chemical Co. Ltd., Changlong Chemical Ltd. and Luyuan Chemical Co. Ltd.
 

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McVICAR RESOURCES INC.
PRESS RELEASE
June 16, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES ACQUISITION OF INTEREST IN McVICAR (HONGKONG) ADVANCED MATERIALS CO. LTD WITH EQUITY PAYMENT AND DIRECTOR RESIGNS TO AVOID APPEARANCE OF CONFLICT OF INTEREST: McVicar Resources Inc. ("McVicar") announces that Mr. Hongjie Kang has resigned from the Board of Directors in order to avoid any possible appearance of conflict of interest in connection with McVicar's ongoing dealings with its 51% owned Hong Kong subsidiary, McVicar (Hong Kong) Advanced Materials Co. Ltd., ("MAM") in which Mr. Kang has an indirect minority interest. Mr. Kang will not stand for re-election as a director at McVicar's upcoming annual meeting on June 25, 2008.

McVicar also announces that it has subsequently entered into an agreement with Shining Palace Holding Co. Limited ("Shining Palace"), a British Virgin Islands company, to acquire all of its 39.5% equity interest in MAM thereby increasing McVicar's interest from 51% to 90.5%. McVicar will acquire the 39.5% interest for RMB 51,350,000 ($7,735,720 based on an exchange rate of 7RMB to $1) to be satisfied by the issue of 5,329,800 units at an agreed issue price of $1.40 per unit. Each unit consists of one common share of McVicar and one-half of one common share purchase warrant, each whole warrant entitling the holder to acquire one additional McVicar share for a period of 24 months from the date of closing of the acquisition.

Completion of the acquisition of the 39.5% equity interest in MAM is conditional upon Shining Palace simultaneously distributing all of the 5,324,800 units of McVicar to the shareholders of Shining Palace in proportion to their respective shareholdings.

Completion of the transaction is also subject to all necessary regulatory approvals.

The transaction announced June 4, 2008 concerning McVicar's interest in MAM has been terminated.

McVicar is a Canadian company with operations in China, mainly focusing on the specialty chemicals. McVicar holds through MAM three subsidiaries located in the east coast of China: Hongbo Chemical Co. Ltd. ("Hongbo"), Changlong Chemical Ltd. ("Changlong") and Luyuan Chemical Co. Ltd. ("Luyuan").

Hongbo is a developer, manufacturer and supplier of specialty chemical products used in the personal care, pharmaceutical and industrial chemical markets. Hongbo's customers include major international and Chinese chemical companies. The company has recently received a series of orders from international companies. Changlong is a developer, manufacturer and supplier
of specialty chemical products used in the pharmaceutical industry. The company possesses the technologies of chemical synthesizing under high pressure. Its customers are mainly Chinese pharmaceutical companies. Luyuan produces chemicals that are key supplies to products that Hongbo provides for DuPont.

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McVICAR RESOURCES INC.
PRESS RELEASE
June 4, 2008
Trading Symbol: MCV

McVICAR ACQUIRES MINORITY INTEREST IN ITS HONGKONG SUBSIDIARY FROM SHINING PALACE HOLDING CO. LTD.: McVicar Resources Inc. ("McVicar") is pleased to announce the successful conversion of the interest of McVicar (Hongkong) Advanced Materials Co. Ltd. ("MAM") held by Shining Palace Holding Co. Ltd. into debt payment of up to one year at an interest rate of 8% annually. This follows the news release of Jan. 14, 2008 that McVicar had reached a letter of intent to acquire the remaining 49% of equity interest in its 51% owned subsidiary MAM from Shining Palace Holding Co. Ltd. and Sanlong Chemical Co. Ltd. ("Sanlong"), for 100% ownership. The transaction of the 9.5% interest of MAM from Sanlong is yet to be completed and MAM is negotiating settlement for the transaction.

McVicar is a Canadian company with operations in China, mainly focusing on the specialty chemicals. The Company has three subsidiaries located in the east coast of China: Hongbo Chemical Co. Ltd. ("Hongbo"), Changlong Chemical Ltd. ("Changlong") and Luyuan Chemical Co. Ltd. ("Luyuan"). Hongbo is a developer, manufacturer and supplier of specialty chemical products used in the personal care, pharmaceutical and industrial chemical markets. Hongbo's customers include major international and Chinese chemical companies. The company has recently received a series of orders from international companies. Changlong is a developer, manufacturer and supplier of specialty chemical products used in the pharmaceutical industry. The company possesses the technologies of chemical synthesizing under high pressure. Its customers are mainly Chinese pharmaceutical companies. Luyuan produces chemicals that are key supplies to products that Hongbo provides for DuPont.
 

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McVICAR RESOURCES INC.
PRESS RELEASE
June 2, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES FIRST QUARTER RESULTS: McVicar Resources Inc. ("McVicar" or the "Company") is pleased to report its financial results for the first quarter ended March 31, 2008. The detailed financial statements and MD&A can be found on www.sedar.com. All amounts are in Canadian dollars unless otherwise noted.

     Highlights of the first quarter results:

     -   Revenue for the first quarter of 2008 was $9.1 million, an increase
         of $2.9 million or 47%, compared to the same quarter in 2007. This
         significant increase was purely due to impressive sales growth in the
         chemical business. Revenue generated from chemical operations was
         $4.8 million in the first quarter of 2008, an increase from $1.6
         million in the same period of 2007. The dramatic increase from the
         chemical business was due to significant contract awards for Hongbo
         Chemical Co. Ltd. ("Hongbo") and the new acquisition of Changlong
         Chemical Co. Ltd. ("Changlong"). Revenue contribution from the
         electronics business was $4.2 million for the quarter, slightly down
         from $4.6 million for the same period of 2007.

     -   Gross profit in the first quarter of 2008 was $2.4 million, an
         increase of $0.5 million compared to $1.9 million in the first
         quarter of 2007 as a result of increased sales. Gross margin as a
         percentage of sales in the first quarter of 2008 was 27%, compared to
         31% in the first quarter of 2007, as a result of decreased profit
         margin in the electronics business. A massive slowdown in US building
         and real estate markets thus reduced demand for the security products
         for JITE's customers.

     -   Operating expenses for the first quarter of 2008 were $1.4 million,
         an increase of $0.2 million or 19% of the total revenue in comparison
         to $1.2 million in the same period of 2007 as a result of the
         significant increase in sales volume. Operating expenses as a
         percentage of sales was reduced to 16% of the total revenue in this
         quarter from 19% in the period of 2007, a decrease of 3% mainly due
         to significant increase in sales and tight control on operational
         expenses.

     -   Net income for the first quarter of 2008 amounted to $327,775
         compared to $322,751 for the same period of 2007. Net profit
         contribution was primarily from the chemical business, as the net
         income in the electronic business was $6,654 for the first quarter of
         2008, down from $287,849 in the same period of 2007. Total net income
         generated from the chemical business for the first quarter was $1.2
         million, an increase of $0.75 million, compared to $0.5 million in
         the same period of 2007 as a result of significant growth in sales.

     Business development activity

     -   On January 14, 2008, McVicar announced a letter of intent to acquire
         the remaining 49% of equity interest in McVicar (Hongkong) Advanced
         Materials Co. Ltd. ("MAM"). MAM, which owns 100% of Hongbo and
         Changlong, was acquired from the minority shareholders in order to
         obtain 100% ownership of MAM. The Company is in the process of
         completing the transaction and thus will account for all net earnings
         from the chemical business.

     -   Production expansion. In February, 2008, Changlong commenced the
         construction of a 20,000 tonne per annum expansion facility for its
         chemical products, NEP (N-Ethyl-2-pyrrolidone) and NMP (N-methyl-
         pyrrolidone). This expansion will add 20% more capacity to the
         production. Construction is expected to be completed by the end of
         June 2008 and is expected to contribute to chemical revenues in the
         second half of 2008.

     -   Product innovation and development. In March, 2008, one of Hongbo's
         chemical products, vinylene carbonate for lithium batteries, was
         selected by the National Torch Plan for its 2008 program. With the
         demand and growth potential for more powerful lithium batteries, the
         product represents tremendous future commercial opportunities for the
         Company.

     -   Acquisition of 80% interest in Luyuan Chemical Co. Ltd. On March 11,
         2008, Hongbo reached an agreement to acquire 80% interest in Luyuan
         Chemical Co. Ltd. ("Luyuan") in Xiangshui, Jiangsu province, China.
         The acquisition was closed on April 21, 2008.

     "McVicar has experienced consecutive sales and earnings growth in the past five quarters since the company began reporting revenue," said Gang Chai, President & CEO of McVicar, "I am very impressed with the progress in the chemical business with substantial revenue and profit growth. The Company is also making progress in operation integration and product development. We are
confident that McVicar will achieve excellent results this year with firm backlog of orders and contribution from new acquisitions."
 

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McVICAR RESOURCES INC.
PRESS RELEASE
May 30, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES CLOSING OF PRIVATE PLACEMENT: McVicar Resources Inc. (the "Company") wishes to announce that it has closed the offering announced by press release dated May 27, 2008. The Company's offering of, by way of private placement, consisting of the sale of 2,183,073 units of the Company at a price of $1.40 per unit, for gross proceeds of $3,056,302. Each unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share until May 30, 2010 at an exercise
price of $1.85 per share. The offering initially consisted of the sale of 2,142,857 units. The additional units were sold on an over-allotment basis.

Jennings Capital Inc. (the "Agent") acted as agent to sell the units on a best efforts basis. The Company issued to the Agent 130,984 units and 130,984 non-transferable compensation warrants, each non-transferable compensation warrant entitling it to purchase one common share at an exercise at a price of $1.40 per share until May 30, 2010.

The units were issued pursuant to applicable prospectus and registration exemptions and are subject to a four-month hold period.  The net proceeds from the offering will be used to fund the acquisition and upgrade of the newly purchased Luyuan Chemical Co. Ltd. and for general
working capital purposes.

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McVICAR RESOURCES INC.
PRESS RELEASE
May 27, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES REPRICING OF PRIVATE PLACEMENT: McVicar Resources Inc. (the "Company") wishes to announce that it has repriced the offering announced by press release dated April 25, 2008. The Company will be proceeding with an offering of, by way of private placement, 2,142,857 units of the Company at a price of $1.40 per unit, for gross proceeds of up to $3,000,000. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable into one common share for a period of two years from closing at an exercise price of $1.85 per share.

Jennings Capital Inc. (the "Agent") has agreed to act as agent to sell the units on a best efforts basis. The Company will pay the Agent a cash commission equal to 6% of the aggregate gross proceeds of the offering and issue to the Agent non-transferable broker warrants to acquire that number of shares that is equal to 6% of the aggregate number of units purchased through the offering, each such broker warrant will be exercisable into one share at the issue price at any time prior to the date that is 24 months from the closing of the offering. At the option of the Agent, the Agent's commission may be satisfied through the issuance of units at the offering price.

The units will be issued pursuant to applicable prospectus and registration and will be subject to a four-month hold period. The offering is expected to close shortly and is subject to the approval of the TSX Venture Exchange.

The net proceeds from the offering will be used to fund the acquisition
and upgrade of the newly purchased Luyuan Chemical Co. Ltd. and for general
working capital purposes.

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McVICAR RESOURCES INC.
PRESS RELEASE
May 16, 2008
Trading Symbol: MCV

Further to the previous announcement McVicar Resources Inc. ("McVicar" or the "Company") is pleased to announce it has now filed its audited annual financial statements and management's discussion and analysis ("MD&A") for the fourth quarter and year ended December 31, 2007. All
amounts are in Canadian dollars ("CDN") unless otherwise noted. The detailed financial statements and MD&A can be found on www.sedar.com

Some highlights of the annual and fourth quarter results:

For the year ended December 31, 2007, McVicar reported revenues of $27 million, and net income of $2.2 million, compared with nil revenues and a net loss of $0.6 million in the same period in 2006. Earnings per share ("EPS") for 2007 were $0.10, compared to negative $0.04 in 2006. During 2007, McVicar recorded approximately $2.1 million gain on dilution of investment in subsidiary. Excluding this gain, net income was approximately $0.2 million.
Sales for the fourth quarter were $7 million, including $3.4 million for chemicals and $3.6 million for technical products, a decrease of approximately $0.1 million, or 12%, compared with $8 million for the third quarter of 2007 primarily due to sales decrease in technical products. For chemical products sales for the fourth quarter of 2007 was $3.4 million, increased by over $0.4 million, compared to $2.9 million for the third quarter of 2007.

Operating expenses for the fourth quarter and for the year ended December 31, 2007 was $1.9 million and $5.5 million, compared to $0.2 million and $0.7 million for the same period in prior year. This increase is mainly due to new acquisitions. As a percentage of sales, operating expenses was 27% for the fourth quarter and 20% for the year fiscal year 2007.

Business Highlights

     -  On January 10, 2007 McVicar closed the acquisition of 51% interest in
        the Hong Kong based McVicar (Hong Kong) Advanced Materials Co. Ltd.
        ("MAM") for RMB 30.6 million (CDN $4.35 million) in cash. MAM owns
        100% interest in Zhejiang Hongbo Chemical Co. Ltd ("Hongbo") located
        in China. Hongbo is a specialty chemical company providing products
        for personal care, pharmaceutical and industrial markets. The results
        of Hongbo are included in the Consolidated Financial Statements from
        January 2007 forward.

     -  On January 19, 2007, McVicar completed the acquisition of 51.12%
        interest in JITE Technologies Inc. for the total consideration of $5.3
        million consisting of $1.4 million cash and 4.4 million shares of
        McVicar at a deemed issue price of $0.90 per unit. JITE is a publicly
        traded company listed on the TSX Venture Exchange under the symbol
        "JTI". JITE designs and manufactures electronic connection devices for
        use in elevators, railways, security, and automation systems. The
        results of JITE are included in the Consolidated Financial Statements
        from January 2007 forward.

     -  On September, 18, 2007, McVicar announced that its Chinese subsidiary,
        Hongbo, has reached a long term strategic supply agreement with
        DuPont, USA. In this agreement, Hongbo agrees to sell and deliver, and
        DuPont agrees to purchase and accept the chemical products for an
        initial three years for a total amount of approximately US $15
        million. This contract will automatically be extended for two
        consecutive two year terms if the customer is satisfied with the
        products and services.

     -  On November 26, 2007, MAM closed the acquisition of a 100% interest in
        Hongzhou Changlong Chemical Co. Ltd. ("Changlong") for total
        consideration of 30 million RMB consisting of cash of 20.50 million
        RMB, (approximately CDN $2.88 million), and 9.5% of MAM's shares. The
        company specializes in high pressure synthesizing process and has a
        15-year presence in the China market. The results of Changlong are
        included in the Consolidated Financial Statements from November 2007
        forward.

"I am very pleased with the breakthrough achievement for the fiscal year 2007," said Gang Chai, McVicar's President and CEO. "This year we completed a series of strategic acquisitions to expand our business, especially in the chemical industry, and made significant progress in penetrating international markets with wide ranges of products. We continue to see progress on all fronts of our acquisitions, and are very confident in our ability to achieve improving growth in the future."
 

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McVICAR RESOURCES INC.
PRESS RELEASE
May 5, 2008
Trading Symbol: MCV

McVICAR FURTHER UPDATES DELAY IN FILING ANNUAL FINANCIAL STATEMENTS AND MD&A:    McVicar Resources Inc. ("McVicar") updates that the delay of the filing of its audited, consolidated financial statements and MD&A persists for the reasons previously announced. It is expected that if
these filings are not completed today they will be completed within the next week.
McVicar will keep the market up to date as to this matter.
 

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McVICAR RESOURCES INC.
PRESS RELEASE
May 1, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES DELAY IN FILING ANNUAL FINANCIAL STATEMENTS AND MD&A:   TORONTO, May 1 /CNW/ - McVicar Resources Inc. ("McVicar") announces that the filing of its audited, consolidated financial statements for the financial year ended December 31, 2007 (the "2007 Statements") and the accompanying Management's Discussion and Analysis ("MD&A") has been delayed past the April 29, 2008 deadline prescribed by applicable securities laws.

The delay in filing the 2007 Statements is due to several factors including:

     1.  In 2007 the Issuer changed its auditors to Deloitte & Touche LLP
         ("Deloitte") and the 2007 Statements are the first statements to be
         audited by Deloitte; and
     2.  The completion and review of the 2007 Statements by Deloitte in
         accordance with their extensive internal procedures and controls was
         not able to be completed by the filing deadline in part to their
         having no prior acquaintance with the Issuer and to the high volume
         of work being experienced by Deloitte.

Henry Tse, Chief Financial Officer of the Issuer, stated "We are expecting to complete these filings today but in any event no later than May 2, 2008. We anticipate that until these filings are completed, the Ontario Securities Commission and other regulators will impose a cease trade order
against management and other insiders prohibiting trading by such persons in securities of the Issuer until filing defaults are remedied. We acknowledge that if the filing defaults are not remedied by June 29, 2008, the Ontario Securities Commission may impose a cease trading order prohibiting further trading in the shares of the Issuer."
Pending completion of these required filings, the Issuer intends to satisfy the provisions of the "Alternate Information Guidelines" prescribed in Ontario Securities Commission Policy 57-603, Defaults by Reporting Issuers in complying with Financial Statement Filing Requirements.
The Issuer intends to remedy this filing default as soon as possible and until this is complete the Issuer will keep the market continuously informed as to any developments or changes in the information contained in this release and as to any change in the anticipated times within which this filing default will be remedied.

About McVicar

Headquartered in Toronto, Canada, McVicar Resources Inc. is a diversified holding company, having 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 Sino Lion Nanjing Ltd, all of which are specialty chemical companies serving the personal care,
pharmaceutical and industrial markets, and Jite Technologies Inc. (TSX Venture Exchange: "JTI"), a manufacturer of electronic and electrical connection devices for the security, industrial control, automation, telecommunication, and power supply industries.

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McVICAR RESOURCES INC.
PRESS RELEASE
April 25, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES PRIVATE PLACEMENT: McVicar Resources Inc. (the "Company") announces that it has engaged Jennings Capital Inc. (the "Agent") to act as agent to sell, on a best efforts basis, by way of private placement, 2,000,000 units of the Company at a price of $1.50 per unit, for gross proceeds of $3,000,000. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable into one common share for a period of two years from closing at an exercise price of $2.00 per share.

The units will be issued pursuant to applicable prospectus and registration exemptions and will be subject to a four-month hold period. The offering is expected to close on May 8, 2008 and is subject to the approval of the TSX Venture Exchange.

The net proceeds from the offering will be used to fund the acquisition and  upgrade of the newly purchased Luyuan Chemical Co. Ltd. and for general working capital purposes.

The Company will pay the Agent a cash commission equal to 6% of the aggregate gross proceeds of the offering and issue to the Agent non-transferable broker warrants (the "Broker Warrants") to acquire that number of shares that is equal to 6% of the aggregate number of units purchased through the offering. Each Broker Warrant will be exercisable into one share at the issue price at any time prior to the date that is 24 months from the closing of the offering.
 

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McVICAR RESOURCES INC.
PRESS RELEASE
April 21, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES CLOSING OF LUYUAN ACQUISITION: McVicar Resources Inc. ("McVicar") is pleased to announce that its recently announced acquisition of an 80% interest in Luyuan Chemical Co. Ltd. ("Luyuan") in Xiangshui city (March 11, 2008) by McVicar's subsidiary, Zhejiang Hongbo Chemical Co. Ltd. ("Hongbo"), has been approved by the Chinese government. Hongbo agrees to pay a cash amount of 4,000,000 RMB (~ CDN $ 600,000) for the equity interest. Hongbo will also provide approximately 5,000,000 RMB (~ CDN $750,000) for facility upgrades and working capital. A team from Hongbo has been sent to Luyuan to manage the facility upgrades as well as oversee the daily operations.

Luyuan is a manufacturer and supplier of specialized chemical products for industrial markets. One of Luyuan's main products is a key raw material Hongbo uses for its products currently sold to DuPont. This acquisition is to ensure that Hongbo can provide the quantity and quality of its products to DuPont and to expand Hongbo's market share and product offering. Luyuan also provides intermediate chemicals for the textile industry with annual capacity of up to 100 million RMB (~ CDN $15 million).

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McVICAR RESOURCES INC.
PRESS RELEASE
April 1, 2008
Trading Symbol: MCV

McVICAR TO DEVELOP GREEN PESTICIDE PRODUCTS WITH AUSTRALIAN COMPANY:McVicar Resources Inc. ("McVicar") is pleased to announce that its Chinese subsidiary, Zhejiang Hongbo Chemical Co. Ltd. ("Hongbo"), has signed a letter of confidentiality with an Australian company
to develop new pesticide products for agricultural use applying insect pheromone synthesis technology. The new products make use of insect pheromones to control insect pests in crops and fruits.

The new products have the advantages of being highly efficient, non-toxic and have no environmental pollutants as compared to traditional chemical pesticides. Long-term uncontrolled use of chemical pesticides can cause many side effects, such as the pest's resistance to the chemical, damage to the ecological balance, and environmental pollution. Insect pheromones are
biological chemicals that insects secrete for a means of transmitting information. By copying certain pheromones the insect's reproductive cycle can be disrupted and the insects lured away from sensitive areas. Current progress in pheromone research has made it possible for many pheromone products to be put into application.

Hongbo produces intermediate chemicals for traditional pesticide producers. As many of the insect pheromones are non-saturated aliphatic compounds, and some are fat and heterocyclic compounds, Hongbo's photo-chlorination technology is applicable for the pheromone synthesis. The
announced collaboration calls for development of several new pesticides products using insect pheromone technology. With the additional support of the Shanghai Institute of Organic Chemistry, a valuable R&D partner to Hongbo, it is possible the cooperation can deliver commercial products within a short time period.

"I am very excited with the new direction we are heading", said Dr. Gang Chai, President & CEO of McVicar, "It marks our strategy of becoming a technologically efficient and environmentally friendly company. China is a country with a huge agriculture market. The dramatic increase of agricultural products, the increased investment on agriculture from the Chinese government
and tightened environmental policies are favourable conditions for our future growth in this sector".

Hongbo is a Chinese subsidiary of McVicar Resources Inc. It has developed over 30 advanced intermediate chemical products for the personal care, industrial and pharmaceutical industries with close cooperation with the highest ranked chemical organization in China, the Shanghai Institute of
Organic Chemistry under the China Academy of Sciences. Recently, the company has won numerous significant order contracts and government awards.
 

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McVICAR RESOURCES INC.
PRESS RELEASE
March 26, 2008
Trading Symbol: MCV

McVICAR PRODUCT SELECTED BY NATIONAL TORCH PLAN OF CHINA: McVicar Resources Inc. ("McVicar") is pleased to announce that one of the chemical products from its Chinese subsidiary
Zhejiang Hongbo Chemical Co. Ltd. ("Hongbo") has been selected by the National Torch Plan for its 2008 program. The chemical product selected was Vinylene carbonate, which is used as an electrolyte for lithium batteries, for its purity and effectiveness.

The National Torch Plan was established by the Chinese Ministry of Science and Technology to identify and award the best and most advanced achievements in innovation and improvement for new products and procedures by government agencies, private companies and individuals. Its main objective is to promote and support the commercialization of the research results. Those products that are selected by the National Torch Plan will benefit from national capital support, bank loan preference and tax reduction or exemption.

"We are very honoured to receive this national award," commented Dr. Gang Chai, President & CEO of McVicar. "It is another validating achievement of our R&D capability and the high standards we place on innovation and development. With the demand and growth potential for more powerful lithium batteries combined with the support of government, this product represents tremendous
commercial opportunities for the company."

Zhejiang Hongbo Chemical Co. Ltd. is a Chinese subsidiary of McVicar Resources Inc. Hongbo has developed over 30 advanced intermediate chemical products for the personal care, industrial and pharmaceutical industries and is in close cooperation with the highly regarded Shanghai Institute of Organic Chemistry under the China Academy of Sciences. Recently, the company has won
numerous significant order contracts and government awards.

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McVICAR RESOURCES INC.
PRESS RELEASE
March 11, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES NEW ACQUISITION: McVicar Resources Inc. ("McVicar") is pleased to announce that its Chemical subsidiary, Zhejiang Hongbo Chemical Co. Ltd. ("Hongbo") has reached an agreement to acquire 80% of Luyuan Chemical Co. Ltd. ("Luyuan") in Xiangshui city, Northern Jiangsu Province, China. Hongbo agrees to pay a cash amount of 4,000,000 RMB (~ CDN $600,000) for the equity interest, and will provide approximately 5,000,000 RMB (~ CDN $750,000) for facility upgrade and working capital.

Luyuan is a manufacturer and supplier of specialized chemical products for the industrial market. One of Luyuan's main products is a key raw material in the intermediate chemicals that Hongbo manufactures and supplies to DuPont as announced in September, 2007. The acquisition of Luyuan will secure the supply lines required for the DuPont project and will enable Hongbo to ensure
the quantity and quality of its raw materials. This acquisition also allows Hongbo to explore for further projects from the company. After the acquisition, Hongbo will take immediate control of the operation and product improvement for reaching the quality and quantity requirements. In addition to the product Hongbo requires, Luyuan also provides intermediate chemicals for the textile industry with annual capacity of up to 100 million RMB (~ CDN $15 million). Hongbo will be able to help in realizing this potential by providing the necessary capital and technical expertise.

"I am pleased with this new acquisition. This is a way to show our commitment to servicing our key customers, to ensure the quality and quantity of supplies to DuPont," Dr. Gang Chai, McVicar's CEO, commented. "Furthermore, through the injection of capital and technology, we will improve the current operations to our standard and capitalize their market potential for other products to further our China growth strategy."

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McVICAR RESOURCES INC.
PRESS RELEASE
February 11, 2008
Trading Symbol: MCV

McVICAR CANCELS PRIVATE PLACEMENT: McVicar Resources Inc. (“McVicar”) announces that the company and its financing syndicate have agreed to stop proceeding with the private placement offering of units that was announced on January 9, 2008. The decision to forego the financing was due to the current unfavourable capital market conditions.

“McVicar is proceeding with its current business development activities with funding from internal resources” said Dr. Gang Chai, President and CEO of the company, “McVicar does not require significant financing in the short term to carry out its current operations. It is therefore unnecessary to proceed with a financing in the context of these unfavourable market conditions.”

About McVicar

Headquartered in Toronto, Canada, McVicar Resources 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 Sino Lion Nanjing Ltd, all of which are specialty chemical companies serving the personal care, pharmaceutical and industrial markets.

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McVICAR RESOURCES INC.
PRESS RELEASE
January 14, 2008
Trading Symbol: MCV

McVICAR SIGNS LETTER OF INTENT TO ACQUIRE REMAINING 49% OF MCVICAR (HONGKONG) ADVANCED MATERIALS LTD: McVicar Resources Inc. (“McVicar”) is pleased to announce that it has reached a letter of intent to acquire the remaining 49% of equity interest in McVicar (Hongkong) Advanced Materials Co. Ltd. (“MAM”), from Shining Palace Holding Co. Ltd. (“SPH”) and Sanlong Chemical Co. Ltd. (“SC”). McVicar currently owns 51% of MAM and after giving effect to the acquisition of 49% of MAM, McVicar will have 100% ownership. 

The parties have agreed to sell their 49% interest at a value of 63.7 million RMB (approximately CDN $8.7 million). MAM is a Hong Kong based holding company that owns the chemical operations in China of Hongbo Chemical Co. Ltd. (“Hongbo”) and Changlong Chemical Co. Ltd. (“Changlong”). SPH, a British Virgin Island company, has agreed to accept 51.35 million RMB (approximately CDN $7 million) in debt with a term of up to one year and an annual interest rate of 8% in return for its 39.5% interest in MAM. Cash payment of 12.35 million RMB (approximately CDN $1.7 million) will be made to SC in return for its 9.5% interest in MAM.

Completion of the acquisition is subject to applicable regulatory approvals.

Hongbo is a developer, manufacturer and supplier of specialty chemical products used in the personal care, pharmaceutical and industrial chemical markets. Hongbo’s customers include major international and Chinese chemical companies. The company has recently received a series of orders from international companies, including DuPont. The Company has clarified the terms of a September 7, 2007 press release announcing an order from DuPont USA. The terms of the deal include Hongbo agreeing to supply up to CDN $15 million of chemical products over three years at approximately CDN$5 million per year. The agreement can be automatically renewed for another two years in 2010 and then again automatically renewed in 2012 for an additional two years.

Changlong is a developer, manufacturer and supplier of specialty chemical products used in the pharmaceutical industry. The company possesses the technologies of chemical synthesizing under high pressure. Its customers are mainly Chinese pharmaceutical companies.

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McVICAR RESOURCES INC.
PRESS RELEASE
January 9, 2008
Trading Symbol: MCV

McVICAR ANNOUNCES $15 MILLION PRIVATE PLACEMENT: McVicar Resources Inc. is pleased to announce that it has engaged Research Capital Corporation and CIBC World Markets Inc. to act as co-lead agents of a syndicate that also includes GMP Securities L.P., Desjardins Securities Inc. and Jennings Capital Inc. on a private placement of CDN$15 million in units at an issue price of $2.30. Each unit will be comprised of one common share and one-half of one common share purchase warrant upon terms to be fixed prior to closing. Each whole warrant will entitle the holder to purchase one additional common share. The financing will be done on a best efforts basis. All securities issued pursuant to the private placement will be subject to a four month hold period from the closing of the financing.

Proceeds of the offering will be used to fund the operations and expansion of the Company’s chemical divisions, Zhejiang Hongbo Chemical Co. Ltd. and Hongzhou Changlong Chemical Co. Ltd., which are both located in China.

The syndicate of investment firms will receive a 6.5% cash commission and warrants to acquire an amount equal to 6.5% of the securities sold pursuant to the transaction on closing. Closing of the private placement financing is subject to TSX Venture Exchange approval.

About McVicar

Headquartered in Toronto, Canada, McVicar Resources Inc. is a diversified holding company, having 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 Sino Lion Nanjing Ltd, all of which are specialty chemical companies serving the personal care, pharmaceutical and industrial markets, and Jite Technologies Inc. (TSX Venture Exchange: “JTI”), a manufacturer of electronic and electrical connection devices for the security, industrial control, automation, telecommunication, and power supply industries.

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McVICAR RESOURCES INC.
PRESS RELEASE
January 3, 2008
Trading Symbol: MCV

McVicar Announces $2.5 Million Order for an American Customer: McVicar Resources Inc. ("McVicar") is pleased to announce that its Chinese subsidiary, Zhejiang Hongbo Chemical Co. Ltd. ("Hongbo") has reached a letter of understanding with a U.S. based chemical company for the purchase of an intermediate chemical used for industrial applications. The order was placed following a trial carried out by the chemical company for 4 tonnes of the intermediate chemical. The new order is for 50 tonnes of the intermediate chemical which is valued at CDN$2.5 million and is to be delivered in 2008.

"The order from this U.S. based chemical company is a continuation of the sales momentum that started ramping up in the second half of 2007. The order is demonstrative of the high standard of our products and is a result of greater international recognition of the for quality and price competitiveness of our products,” commented Dr. Gang Chai, President & CEO of McVicar "We are looking forward to another successful year”.

Zhejiang Hongbo Chemical Co. Ltd. is a wholly owned Chinese subsidiary of McVicar (Hongkong) Advanced Material Co. Ltd. which is 51% owned by McVicar Resources Inc. Hongbo has developed over 30 advanced intermediate chemical products for the personal care, industrial and pharmaceutical industries with close cooperation with the leading chemical institution in China, the Shanghai Institute of Organic Chemistry under the China Academy of Sciences.

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