MagIndustries Corp.
TSX : MAA

MagIndustries Corp.

July 08, 2015 15:18 ET

MagIndustries Corp. Announces Appointment of John Gingerich, P.Geo and Chris Hopkins CA, CPA as Independent Directors

TORONTO, ONTARIO--(Marketwired - July 8, 2015) - MagIndustries Corp. (TSX:MAA) ("MagIndustries" or the "Company") is pleased to announce that John Gingerich, P.Geo and Chris Hopkins, CA, CPA have been appointed as directors of the Company. Both Mr. Gingerich and Mr. Hopkins have strong professional credentials and deep experience with public companies which equip them well to advise and guide MagIndustries. They are both independent of majority shareholder, Evergreen Holding. Mr. Hopkins will chair the audit committee and Mr. Gingerich will serve as a member of that Committee. The Company expects to finalize the search for a third independent director with an appointment to be announced in coming days.

Mr. Simon Liang, Chairman of MagIndustries and of Evergreen Holding, said, "As Chair I am very pleased to welcome independent directors of the calibre of Mr. Gingerich and Mr. Hopkins to our board. Their experience and business acumen will be highly valued at this crucial stage in the Company's history."

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, www.magindustries.com

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 documents in accordance with the regulatory requirements given the recently announced board resignations. 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.

Cusip: 55917T 102

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