MagIndustries Corp.

MagIndustries Corp.

January 09, 2015 15:05 ET

A MagIndustries Delegation Headed by Longbo Chen Met with the President of the Republic of Congo

TORONTO, ONTARIO--(Marketwired - Jan. 9, 2015) -

Editors Note: There is a photo associated with this press release.

On January 8, 2015, a MagIndustries Corp. (TSX:MAA) (the "Company" or "MagIndustries") delegation led by Mr. Longbo Chen, CEO met with the His Excellency Denis Sassou-Nguesso, President of the Republic of Congo (the "RoC"), in Brazzaville. On behalf of the Board of the Directors of the Company, the delegation delivered New Year's greetings to His Excellency and expressed gratitude for the full support that the Company has received in the RoC from him, the government of the RoC, and the government of China. The delegation reported on the progress of the Mengo Potash Project (the "Project") in 2014 and its vision for future development, reaffirming MagIndustries' interest in participating in the industrialization and economic diversification of the RoC. His Excellency expressed satisfaction with construction progress of the Project and re-stated his support for the Project and that of the Congolese government. The Ambassador of China to the RoC, Mr. Jian Guan, was also present at the meeting.

The delegation subsequently met with senior members of the Congolese government individually, among whom were the Minister of State, Minister of Transportation, Civil Aviation and Merchant Shipping, Rodolphe Adada, the Minister of Mining and Geology, Pierre Oba, the Minister of Land Ownership Affairs and State Property, Pierre Mabiala, thanking them for their strong support to the Project and their contribution to solving various challenges encountered in the process of project investment and construction.

About MagIndustries Corp.

MagIndustries is a Canadian company whose common shares are listed on the TSX 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,

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. A project finance loan or other forms of financing are necessary for the Mengo Project to proceed and there is a risk the Company and its prospective lenders or investors may not agree on final terms and conditions. Additionally, approval for a project finance facility, when or if finalized, may not be in a timeframe that allows the Mengo Project to proceed on the expected schedule. 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. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.

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Cusip: 55917T 102

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