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Huaxing Machinery Corp. Reports Its Transfer to NEX

June 15, 2015
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Vancouver, British Columbia – Huaxing Machinery Corp. (TSX.V – HUA.H, formerly TSX.V - HUA) (“Huaxing” or the “Company”) confirms that effective June 9, 2015, the Company's listing on the TSX Venture Exchange (the “Exchange”) has been transferred to the Exchange’s NEX Board. The Company's tier classification has been downgraded from Tier 2 to NEX, because the Company was unable to meet the Tier 2 Continued Listing Requirements. As a result, the Company's trading symbol has been changed to HUA.H.

The Company has been unable to secure funding from its operating subsidiary Gold Rhino Huaxing Machinery Co., Ltd. or from other sources to sustain the expenses related to the Exchange’s Tier 2 Continued Listing Requirements. While the management and directors of the Company continue to analyze options including funding the Company to reinstate its Tier 2 listing status, restructuring and privatization, the Company's future is uncertain.

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.

For additional information:

HUAXING MACHINERY CORP.
Xinlin Huang, CFO
Phone: 778-373-1485

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.

 

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