Here we go once more: Boca Raton strikes again!

BOCA RATON, Fla., July 16 /PRNewswire/ -- JAG Media Holdings, Inc. (OTC Bulletin Board: JAGH - News) announced today a further update of the status of its acquisition of CardioGenics Inc. by its Ontario, Canada subsidiary, CardioGenics ExchangeCo. Inc. The closing date for the acquisition, currently scheduled for a date on or before July 17, 2009, has been rescheduled to a date on or before July 24, 2009 to allow the parties sufficient time to attend to the remaining closing matters. All parties continue to dedicate their full resources to execute the remaining matters for the closing.

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0.36	-0.01

The closing of the transaction remains subject to (a) CardioGenics closing on private placements of not less than $1,500,000; (b) the completion of the pro forma financial statements for the transaction based on CardioGenics' and JAG Media's relevant financial statements; (c) the CardioGenics shareholders and debenture holders making certain deliveries, prior to the closing, as set forth in the share purchase agreement; and (d) the satisfaction of various customary conditions to closing.