Announces Grant of Options

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Announces Grant of Options

posted on Feb 18, 2009 01:19PM

February 18, 2009

MagIndustries Corp. Announces Grant of Options

TORONTO, CANADA--(Marketwire - Feb. 18, 2009) - MagIndustries Corp. (the "Company") (TSX VENTURE:MAA) announced today that pursuant to its stock option plan and subject to approval of the TSX Venture Exchange, the Company has granted a total of 5,480,000 incentive stock options to 28 directors, officers, employees and consultants of the Company and its subsidiaries on February 18, 2009. These options vest over a period of 12 months, have an exercise price of CDN$0.24 per share and a term of five years.

MagIndustries Corp. is a Canadian company whose common shares are listed on the TSX-V Exchange and trades in Canadian currency under the symbol "MAA". The Company has 288,079,962 shares outstanding on an undiluted basis. More information on the Company is available at its website, www.magindustries.com.

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