MagIndustries Corp.
TSX : MAA

MagIndustries Corp.

April 13, 2010 16:00 ET

MagIndustries Announces the Appointment of Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - April 13, 2010) - MagIndustries Corp. ("MagIndustries" or the "Company") (TSX:MAA) is pleased to announce the appointment of Mr. Rich Morrow as Chief Financial Officer. Rich will also continue as Executive Vice President, Director of Corporate Development. He has led MagIndustries corporate development activities since June 2007, applying the skills gained over 25 years in investment research with leading investment dealers and in corporate development with a FTSE 100 industrial products company. He holds an MBA from York University's Schulich School of Business, with an accounting and finance focus.

Mr. Will Burton has served as Interim CFO for the past nine months and will continue as Corporate Controller. "Will has done an excellent job as Interim CFO for MagIndustries. We look forward to his continued firm hand as Corporate Controller of the Company," stated Mr. Victor Wells, Director & Chair of Audit Committee.

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 at 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

Contact Information

  • MagIndustries Corp.
    Mr. Knut Rodne
    Director of Communications and Business Development
    416-368-7911
    krodne@magindustries.com