MagIndustries Announces Appointment of Norbert Grueschow As Chief Technical Advisor-Solution Mining and Member of the Technical Advisory Board of MagMinerals Potash Corp.
Posted on: Monday, 11 August 2008, 15:01 CDT
MagIndustries Corp. ("MagIndustries")(TSX VENTURE: MAA) is pleased to announce the appointment of Norbert Grueschow to the positions of Chief Technical Advisor - Solution Mining and member of the Technical Advisory Board of MagMinerals Potash Corp. ("MagPotash") effective immediately.
Mr Grueschow has over 30 years of international experience in research and development in potash mining, with a particular focus on solution mining technology and evaporite ore chemistry, as well as project management. During his career, Mr. Grueschow has advised on carnallite solution mining projects in Germany, Russia, The Netherlands, Thailand, Brazil, and Ethiopia. He will be available to MagPotash for the execution of the US$723 million Kouilou potash mining and processing project to be located near the Atlantic port of Pointe Noire, in the Republic of Congo. His key tasks will include the planning and supervising the Company's solution mining research and development program, providing assistance in recruiting and training professional staff, as well as managing the interface between brine production and crystallisation processes.
Mr Grueschow has been working for MagIndustries and MagPotash as a consultant since 1998 and laid the foundation for the Kouilou process flow sheet.
Mr. Grueschow is a German citizen and has been granted Bachelors and Masters degrees in chemical engineering by the Technische Hochschule fur Chemie, Merseburg, Germany. He is considered one of the industry's foremost authorities on potash solution mining and has filed over 50 patents related to solution mining processes and operations. MagPotash is extremely pleased to welcome Mr. Grueschow to the project build team and its Technical Advisory Board.
MagIndustries holds its interest in the Kouilou potash mining and processing project through MagPotash. Through private placements of equity completed in April 2008 (25,250,000 shares at $4.00 per share) and June 2008 (15,000,000 shares at $5.00 per share) MagPotash has raised $176 million and is currently completing the process to become a reporting issuer in certain provinces of Canada and intends to have its common shares listed on a recognized Canadian stock exchange. On a fully diluted basis, MagIndustries holds approximately 62% of MagPotash.
About MagIndustries Corp.
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 197,514,016 shares outstanding on an undiluted basis. MagIndustries' wholly owned resource subsidiaries are operating and developing major industrial projects in the Republic of Congo (ROC) and the Democratic Republic of Congo (DRC).
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, changing market conditions, and other risks detailed from time-to-time in the Company's ongoing filings. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: MagIndustries Corp. Rich Morrow Vice-President 416-368-7911 or 416-258-0829 (cell) 416-368-5048 (FAX) www.magindustries.com
SOURCE: MagIndustries Corp.
Source: MARKET WIRE
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