TORONTO, ONTARIO--(Marketwired - May 8, 2014) - MagIndustries Corp. ("MagIndustries" or the "Company") (MAA.TO) announced today the results of the Special Meeting of shareholders held on May 7, 2014.
The majority of shareholders voted in favour of all resolutions at the meeting as set out in the Company's Management Proxy Circular dated April 7, 2014 (the "Circular") namely:
- the resolutions approving certain loan agreements between the Company's wholly-owned subsidiary, MagMinerals Inc., and Evergreen Resources (BVI) Ltd. and the allotment and reservation for issuance of that number of common shares in the capital of MagIndustries as may be required to satisfy the conversion feature of such loan agreements, as described in more detail in the Circular; and
- the resolution authorizing the Company to file an amendment to the articles of the Corporation to create an unlimited number of shares of a class designated as Class A Preferred Shares, as described in more detail in the Circular.
About MagIndustries Corp.
MagIndustries is a Canadian company whose common shares are listed on the TSX and trade in Canadian currency under the symbol "MAA". The Company has 755,942,674 common shares outstanding. MagIndustries is focused on the development of its potash assets in the ROC. More information on the Company is available on its website, www.magindustries.com.
Cusip: 55917T 102