MagIndustries Corp.
TSX : MAA

MagIndustries Corp.

October 02, 2008 17:26 ET

MagIndustries Corp. Announces Grant of Options

TORONTO, ONTARIO--(Marketwire - Oct. 2, 2008) - MagIndustries Corp. (the "Company") (TSX VENTURE:MAA) announced today that pursuant to its stock option plan and subject to approval of the TSX Venture Exchange, the Company has granted a total of 1,100,000 incentive stock options to ten officers, employees and consultants of the Company and its subsidiaries on October 1st, 2008. These options vest over a period of 18 months, have an exercise price of CDN$0.91 per share and a term of five years.

MagIndustries Corp. is a Canadian company whose common shares are listed on the TSX-V Exchange and trades in Canadian currency under the symbol "MAA". The Company has 197,514,016 shares outstanding on an undiluted basis. More information on the Company is available at its website, www.magindustries.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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.

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