Magnotta Winery Corporation

Magnotta Winery Corporation

June 23, 2011 10:02 ET

Magnotta Provides Update on Annual Meeting of Shareholders and Alternative Voting Instructions Due to Canadian Postal Strike

VAUGHAN, ONTARIO--(Marketwire - June 23, 2011) - Magnotta Winery Corporation ("Magnotta" or the "Corporation") (TSX:MGN) wishes to remind its shareholders of its upcoming annual meeting of shareholders scheduled to take place on Thursday, July 14, 2011 (the "Meeting"), and to provide details to shareholders on alternative ways of voting given the ongoing Canada Post strike. In light of the foregoing and the resulting disruption of mail services, the Corporation is unable to mail the notice of meeting, management information circular (the "Circular") and proxy (collectively, the "Meeting Materials") prepared in connection with the Meeting. However, upon resumption of normal mail service, the Corporation intends to arrange for the mailing of the Meeting Materials to its shareholders.

Copies of the Meeting Materials are available under Magnotta's profile on the System for Electronic Document Analysis and Retrieval at Magnotta has also posted a link to the Meeting Materials on its website at Shareholders are encouraged to access and review electronic copies of the Meeting Materials on these websites, to carefully consider the information therein and to vote at the Meeting either in person or by proxy.

Shareholders are not required to be present at the Meeting and can vote their common shares of Magnotta (the "Magnotta Shares") in advance of the Meeting. All proxies to be exercised at the Meeting must be submitted to the Corporation's registrar and transfer agent, CIBC Mellon Trust Company ("CIBC Mellon"), such that they are received at least 48 hours (excluding Saturdays, Sundays and statutory holidays in the Province of Ontario) preceding the time of the Meeting or any adjournment(s) thereof. Complete information about voting at the Meeting is contained in the Circular. As a result of the Canada Post strike, shareholders of the Corporation can vote their Magnotta Shares as follows:

Registered Shareholders

You are a registered shareholder if you hold paper share certificates registered in your name.

By facsimile – Complete the form of proxy, sign and date it and fax it to CIBC Mellon, Attention: Proxy Department at 416.362.2502 or toll-free (within North America) at 1.866.781.3111. As the proxies will not be personalized, registered shareholders must clearly print such person's name exactly as it appears on the share certificate, indicate the number of Magnotta Shares held and then sign and date the form of proxy before submission.

By appointing someone (who need not be a shareholder of the Corporation) to attend the Meeting for you and vote your Magnotta Shares – Strike out the names of the persons designated in the form of proxy. Insert the name of the person you are appointing in the blank space provided for that purpose. Complete your voting instructions, sign and date the form.

Beneficial Shareholders

You are a beneficial shareholder if your Magnotta Shares are held on your behalf by a broker, financial institution, trust company, securities dealer or other intermediary.

Beneficial shareholders should contact the broker, financial institution, trust company, securities dealer or other nominee that holds their Magnotta Shares, as each intermediary has its own form of proxy return instructions.

Except for statements of historical fact contained herein, information in this press release may constitute "forward-looking information" within the meaning of Canadian securities laws. Other than statements of historical fact, all statements that involve various known and unknown risks, uncertainties and other factors are "forward-looking statements". There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "forward-looking statements". Except as otherwise required by applicable securities statutes or regulation, the Corporation expressly disclaims any intention or obligation to update publicly any forward-looking information, whether as a result of new information, future events or otherwise.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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