TORONTO, Nov. 7, 2018 /CNW/ - Boyuan Construction
Group, Inc., (TSX: BOY) today announced that it is experiencing
delays transferring funds from its banking partners in China with respect to the redemption of the
Company's 11.5% unsecured convertible debentures due on
October 31, 2018 (the "Unsecured
Debentures").
The Company wishes to reassure its debenture holders that once
these temporary delays on the banking end have been resolved, the
Company will proceed with the redemption in full of all of the
currently outstanding Debentures.
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 to proceed with the redemption. 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.