MCV acquires 1 million more JTI sharesMcVicar Announces Further Investment in Jite Technologies
04 Jun 2010 16:59 ET
Trading Symbol: MCV
TORONTO, June 4 /CNW/ - McVicar Industries Inc. ("McVicar" or the
"Company") announces it has increased its investment in Jite Technologies Inc.
("Jite" - TSX.V symbol JTI) from the holdings reported in a previous report
dated September 19, 2007, through the acquisition on the TSX Venture Exchange
of an aggregate of 492,500 common shares (2.23%) of Jite at market prices in a
number of trades from December 2008 to June 4, 2010 and through the
acquisition of control or direction over a further 512,150 common shares
(2.43%) of Jite by way of private agreements.
McVicar now holds 10,336,250 common shares (49.05%) and exercises control
or direction over 512,150 common shares (2.43%) for a total of 10,848,400
common shares (51.48%) of Jite.
McVicar has acquired control or direction over these common shares for
investment purposes and may or may not purchase or sell common shares of Jite
in the future on the open market or in private transactions, depending on
market conditions and other facts.