For immediate release
Toronto, Canada: September 1, 2015
MAGINDUSTRIES ANNOUNCES MANAGEMENT CHANGES
MagIndustries Corp. ("MagIndustries" or the "Company") reports that Longbo Chen, formerly Chief Executive Officer, has left the Company to pursue other interests.
Simon Liang, Chairman of the Board of Directors of the Company, stated “On behalf of the Board, I would like to acknowledge the contribution that Mr. Chen made in furthering the goals of the Company. We extend our best wishes to him in all of his future endeavours.”
The Board of Directors of the Company has resolved to make the following appointments, effective September 1, 2015:
Chief Executive Officer: Simon Liang
Chief Operating Officer: Richey Morrow. Mr. Morrow was previously the Co-Chief Executive Officer of the Company – the Co-CEO position has been eliminated.
About MagIndustries Corp.
MagIndustries is a Canadian company focused on the development of its potash assets in the Republic of Congo. More information on the Company is available on its website, www.magindustries.com
Forward Looking Information
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. Specifically with respect to this press release, the Company may not be able to file the required documents in accordance with the regulatory requirements given the recently announced board resignations. 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.
For Further information contact:
Chief Operating Officer