Huaxing Machinery Corp.
TSX VENTURE : HUA

Huaxing Machinery Corp.

December 04, 2014 15:25 ET

Huaxing Machinery Corp. Grants Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 4, 2014) - Huaxing Machinery Corp. (TSX VENTURE:HUA) ("Huaxing" or the "Company") has granted incentive stock options to certain directors of the Company for the option to purchase of up to an aggregate 270,000 common shares of the Company.

The options have an exercise price of $0.20 per common share, are exercisable until November 26, 2019 and vest in four equal instalments over three years. The options are being granted pursuant to the terms of the Company's stock option plan and are subject to the policies of the TSX Venture Exchange.

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