MagIndustries Corp.
TSX : MAA

MagIndustries Corp.

July 03, 2009 14:40 ET

MagIndustries Corp. Announces Resignation of Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - July 3, 2009) - MagIndustries Corp. (the "Corporation")(TSX VENTURE:MAA) today announced that Mr. Jeff Swinoga, the Corporation's Chief Financial Officer has resigned his position to pursue a new opportunity. Mr. Swinoga's resignation is effective on July 17th, 2009. Mr. Will C. Burton, the Corporation's Controller, will act as the Corporation's interim Chief Financial Officer until the Corporation identifies a replacement Chief Financial Officer. Mr. Will C. Burton will also report to Mr. Vic Wells, Chairman of the Corporation's Audit Committee.

The Corporation thanks Mr. Swinoga for his contribution to the success and growth of the Corporation and wishes him well in his future endeavors.

About MagIndustries Corp.

MagIndustries is a Canadian company whose common shares are listed on the TSX-Venture Exchange and trades in Canadian currency under the symbol "MAA". The Company has 359,552,462 shares outstanding on an undiluted basis. MagIndustries' resource subsidiaries are operating and developing major industrial projects in the Republic of Congo and the Democratic Republic of Congo. More information on the Company is available at 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.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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