12:06 PM EST - McVicar Industries Inc. : announced that its Hong Kong based subsidiary, McVicar (Hongkong) Advanced Materials Co. Ltd. (MAM), has reached an agreement with Sanlong Holdings Co. Ltd. to acquire the remaining 8% interest of Changlong Chemical Co. Ltd. After the transaction, Changlong will become a 100% owned subsidiary of MAM. MAM agrees to pay a cash amount of 2.1 million RMB ($330,000 Canadian) based on the agreement. Sanlong Holdings and its principals are all at arm's length to McVicar and its subsidiaries. McVicar Industries Inc.
shares V.MCV are trading unchanged at $0.42.
