MagIndustries to list on TSX Sept. 25

2009-09-23 20:03 ET - New Listing

TSX bulletin 2009-1206

An application has been granted for the original listing in the mining category of 403,460,583 common shares of the company, of which 359,852,462 common shares are issued and outstanding, and 43,608,121 common shares are reserved for issuance.

The common shares of the company will be listed and posted for trading at the opening on Friday, Sept. 25, 2009.

The company is subject to the reporting requirements of Section 501 of the Toronto Stock Exchange company manual.

Stock symbol: MAA

Cusip No.: 55917T 10 2

Trading currency: Canadian

Temporary market-maker: Jones, Gable & Company Ltd.

Other markets: The common shares of the company have been listed on TSX Venture Exchange since Oct. 2, 2000, under the symbol MAA. The common shares will be delisted from TSX-V at the opening on Sept. 25, 2009, upon commencement of trading on the TSX.

Incorporation: The company was formed by articles of amalgamation dated Oct. 23, 1997, whereby Clavos Enterprises Inc. and Magnesium Alloy Corp. amalgamated and continued as Magnesium Alloy Corp. By articles of amendment dated Jan. 27, 2005, the name of the company was changed from Magnesium Alloy to MagIndustries Corp. On Jan. 10, 2006, the company continued under the Canada Business Corporation Act from the Business Corporation Act (Ontario).

Fiscal year-end: Dec. 31

Nature of business: The company is a Canada-based company developing four business units in Africa: MagEnergy, MagMinerals, MagMetals and MagForestry. MagMinerals owns exclusive rights to the Kouilou potash project near Pointe-Noire, Republic of Congo, which is poised to be the first new entrant into the potash industry. MagForestry operates a 68,000-hectare renewable eucalyptus forestry plantation overlying the Kouilou potash property and an associated 500,000-tonne-per-year wood chip facility. MagEnergy is financing and project managing the refurbishment and rehabilitation of the off-line turbines at the Inga hydro-electric facility on the Congo River in the Democratic Republic of Congo, and studying other greenfield hydro sites. MagMetals is studying ways to use the magnesium-rich brine output of the MagMinerals potash plant to produce magnesium and magnesium alloys for the automotive industry.

Transfer agent and registrar: Equity Transfer & Trust company, Toronto

Distributions: The company has not paid any dividends or made any distributions in the last five years. The company does not anticipate paying dividends in the foreseeable future.