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MagIndustries Corp.: MagIndustries Comments on Presidential Election and New Government in the Republic of the Congo

^{Published on 2009-09-18 10:22:27 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Sept. 18, 2009) - MagIndustries Corp. ("MagIndustries" or the "Company") (TSX VENTURE:MAA) is pleased to note that following an orderly democratic Presidential election held on July 12, 2009 which returned his Excellency Mr. Denis SASSOUS NGUESSO as President of the Republic of Congo for a further 7 year mandate, the new Government of the Republic of the Congo was announced this week.

The Company wishes to congratulate the President and the new Government members on achieving their positions and the Congolese people for their commitment to the democratic process.

A key member of the previous government from the standpoint of MagIndustries, Minister Pierre Oba, retains the portfolio of Mines and Mining Industries, providing continuity as the Company progresses on the implementation of its projects in the ROC, notably the Kouilou Potash Project. Of equal note, Minister Henri Djombo, in addition to the Forestry portfolio, which he managed in the last government, will also be Minister of Sustainable Development and Environment, providing valued continuity to the Company as it expands its forestry business and manages its environmental responsibilities.

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 359,852,462 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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