Migao Corporation

Migao Corporation

April 26, 2007 07:30 ET

Migao Corporation Receives Conditional Approval to List on the Toronto Stock Exchange

TORONTO, ONTARIO--(CCNMatthews - April 26, 2007) - Migao Corporation (TSX VENTURE:MGO), a leading producer of specialty potash fertilizers for the Chinese market, is pleased to announce that pursuant to a letter from the Toronto Stock Exchange dated April 25, 2007, it has been conditionally approved for listing, and subject to its receipt of final approval, the common shares of Migao Corporation will be listed for trading on the Toronto Stock Exchange (TSX) on or about May 10, 2007.

"To graduate to the TSX in less than one year following our original listing on the TSX Venture Exchange is a proud accomplishment for Migao," said Mr. Liu Guocai, Migao's President and CEO. "We are very grateful for the guidance and assistance provided to us by the TSX Venture Exchange as a new entrant to the North American capital markets. We look forward to the benefits associated with graduating to Canada's senior stock exchange."

Shares of Migao Corporation will continue to trade under the symbol 'MGO' on the TSX. Concurrent with the listing on the TSX, the shares will no longer trade on the TSX Venture Exchange.

Migao is currently constructing two additional 40,000-tonne potassium sulphate facilities in China, which are scheduled to be completed by the end of 2007. After completing the current construction projects, Migao will be producing approximately 300,000 tonnes of potash-based fertilizers on an annual basis.

Migao Corporation, through its wholly owned subsidiaries, owns and operates fertilizer production plants in strategic locations throughout China for the production and sale of potassium nitrate and potassium sulphate to the Chinese domestic agricultural market.

This press release contains statements that may constitute forward-looking statements, which may include financial and other projections, as well as statements regarding future plans, objectives or economic performance. Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied and accordingly, investors should not place undue reliance on any such forward-looking statements. Factors that could cause results to vary include those expressed in the Company's filings with Canadian securities regulatory authorities. All information presented herein should be read in conjunction with such filings.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

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