MagIndustries Corp.

TSX : MAA


MagIndustries Corp.

February 25, 2013 11:02 ET

MagIndustries Announces Resignation of Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2013) - MagIndustries Corp. ("MagIndustries" or the "Company") (TSX:MAA) today announced that Will Burton, the Company's Chief Financial Officer, has resigned his position to pursue a new opportunity. Mr. Burton's resignation is effective on March 25, 2013. The Board of Directors has authorized a search for a new Chief Financial Officer, strong candidates have been identified, and an appointment will be announced in the coming weeks.

MagIndustries' Board of Directors and management thanks Mr. Burton for his contribution to the Company over the past seven years and wishes him well in his future endeavors.

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 460,172,463 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

Contact Information