SOURCE: Megola Inc.

Megola Inc.

December 24, 2009 11:30 ET

Megola Inc. Announces CEO Accepts Director Role on Pacific Channel Limited Board

POINT EDWARD, ON--(Marketwire - December 24, 2009) - Megola Inc. (OTCBB: MGON) announces that its President and CEO, Joel Gardner, has accepted a position on the Pacific Channel Board of Directors for 2010.

Pacific Channel Limited obtained the exclusive North American rights to the Hartindo line of Anti-Fire products from Newstar Chemicals SDN of Malaysia in 2006.

Mr. Gardner joins Mr. Sufan Siauw, former director and current Advisory Board member of Megola Inc., and Mr. Matthew Sacco on the PCL Board for 2010.

"It is critical for Megola to have a voice on the PCL Board as we work hand in hand with Newstar Chemicals to continue with the ongoing development and commercialization efforts of the Hartindo line of Anti-Fire Products on this side of the world," stated Joel Gardner. " Fellow Megola Inc. director and current President of New Fire Solutions Buzz Brown will also be traveling to the meetings and we both look forward to meeting with Mr. Siauw and the representatives of Newstar at the Hartindo Strategic Planning sessions in Singapore on January 7th to the 10th," concludes Gardner.

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Shareholders and investors are strongly cautioned against placing undue reliance on information set forth in these communications in making any investment decisions concerning our securities.

The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

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