MagIndustries Corp.
TSX : MAA

MagIndustries Corp.

February 15, 2011 08:39 ET

MagIndustries Announces Changes to the Board of Directors

TORONTO, ONTARIO--(Marketwire - Feb. 15, 2011) - MagIndustries Corp. ("MagIndustries" or the "Company") (TSX:MAA) reports that Mr. Bill Burton has resigned his position as a Director of the Company. Mr. Burton's resignation is effective immediately.

The Company further announces the new appointment of Mr. Rich Morrow to the Board of Directors. Mr. Morrow currently serves as the CEO of the Company.

Mr. Gerard Munera, Chairman of the Company, said, "Bill Burton is the founder of the Company and his vision and commitment has been instrumental to the strategy of the Company. On behalf of the Board of Directors and the Company's executive team, we thank him for his many years of service and wish him well in his future endeavors. At the same time we would also like to welcome Rich Morrow and the valuable experience he brings to the Board of Directors."

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 456,772,463 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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