MagIndustries Corp.

MagIndustries Corp.

June 02, 2015 10:42 ET

MagIndustries Announces Issuance of General Cease Trade Order

TORONTO, ONTARIO--(Marketwired - June 2, 2015) - MagIndustries Corp. (TSX:MAA) (the "Company" or "MagIndustries") announces that a general cease trade order was issued today by the Ontario Securities Commission, in connection with the Company's previously disclosed failure to file by March 31, 2015 its audited consolidated financial statements for the year ended December 31, 2014 and its related management's discussion and analysis and management certifications (collectively, the "Required Filings"). Under the terms of the cease trade order, all trading in the Company's securities has ceased and the shares of the Company have been halted by the Toronto Stock Exchange.

About MagIndustries Corp.

MagIndustries is a Canadian company whose common shares are listed on the Toronto Stock Exchange and trade in Canadian currency under the symbol "MAA". The Company has 755,942,674 common shares outstanding. 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,

Forward Looking Information

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, country policy and political risks, currency exchange risk, changing market conditions, force majeure events, and other risks detailed from time-to-time in the Company's ongoing filings. Specifically with respect to this press release, the Company may not be able to file the Required Filings and/or be able to re-instate trading in a timely fashion. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under the Company's continuous disclosure obligations.

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