MagIndustries Corp.
TSX : MAA

MagIndustries Corp.

April 19, 2010 16:00 ET

MagIndustries Announces Grant of Options

TORONTO, ONTARIO--(Marketwire - April 19, 2010) - MagIndustries Corp. ("MagIndustries" or the "Company") (TSX:MAA) announced today that pursuant to its stock option plan and subject to approval of the TSX, the Company has granted a total of 6,625,000 incentive stock options to 22 directors, officers and employees of the Company and its subsidiaries on April 17, 2010. These options vest in five equal installments over a period of 12 months commencing on the date of grant, have an exercise price of Cnd$0.50 per share, being a 14% premium to the closing price of the shares on the TSX on April 16th, 2010 of Cnd$0.44, and have a term of five years.

About MagIndustries Corp.

MagIndustries is a Canadian company whose common shares are listed on the TSX and trades in Canadian currency under the symbol "MAA". The Company has 418,242,462 shares outstanding on an undiluted basis. MagIndustries is focused on the development of its potash assets in the Republic of Congo. More information on the Company is available on its website, www.magindustries.com.

Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, and other risks detailed from time-to-time in the Company's ongoing filings. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.

Cusip: 55917T 102

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