Huaxing Machinery Corp.
TSX VENTURE : HUA

Huaxing Machinery Corp.

December 17, 2014 21:09 ET

Huaxing Machinery Corp. Announces Change of Auditor

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 17, 2014) - Huaxing Machinery Corp. (TSX VENTURE:HUA) ("Huaxing" or the "Company") reports a change of auditor. Manning Elliott LLP resigned effective October 9, 2014 and the directors of the Company have appointed PricewaterhouseCoopers LLP as successor auditor of the Company effective December 17, 2014 until the close of the Company's next annual general meeting. The change in auditor has been approved by the Company's audit committee and board of directors.

There were no reservations in Manning Elliott's reports in connection with the two most recently completed fiscal years or for any period subsequent to the most recently completed period for which an audit report was issued preceding the date of Manning Elliott's resignation. To the Company's knowledge, there were also no "reportable events" (as that term is defined in National Instrument 51-102 Continuous Disclosure Obligations) between the Company and Manning Elliott.

In accordance with National Instrument 51-102, the notice of change of auditor, together with the required letters from the former auditor and the successor auditor, have been reviewed by the audit committee and the board of directors and will be filed on SEDAR accordingly.

About Huaxing Machinery Corp.

Huaxing is a manufacturer of stone processing equipment and steel structure fabrication equipment. Through its wholly owned subsidiary Gold Rhino Limited, Huaxing holds an 80% controlling equity interest in Shandong Gold Rhino Huaxing Machinery Corp., the operating entity that holds the manufacturing facilities located in Boxing County, Shandong Province, China. Its main products are stone sawing, cutting, polishing and processing machinery, and robotic welding system for steel structure fabrication. The processed stones and steel structures are both used in the building and infrastructure construction industry.

Forward-Looking Statements

Certain information regarding Huaxing Machinery Corp. contains herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees. The Company assumes no obligation to update such forward-looking statements, except as required by applicable securities laws or exchange regulations. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The Company seeks safe harbour.

Neither 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.

Contact Information

  • Huaxing Machinery Corp.
    Ian Y.B. He
    Vice Chairman, Director
    604-306-5867