MagIndustries Corp. Provides Update for Closing of Equity Offering

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

MagIndustries Corp. ("MagIndustries" or the "Company") (TSX VENTURE:MAA) is
pleased to announce it has received a receipt for an amended and restated final
short form prospectus in the provinces of British Columbia, Alberta,
Saskatchewan, Manitoba, Ontario, New Brunswick and Nova Scotia (the "Qualifying
Jurisdictions"). MagIndustries filed the amended and restated final prospectus
in order to include a description of the previously announced proposed
transaction described in the press release of June 15, 2009.


MagIndustries had previously entered into an underwriting agreement with a
syndicate of underwriters led by Cormark Securities Inc. and including BMO
Nesbitt Burns Inc., Paradigm Capital Inc., Canaccord Capital Corporation and
Jennings Capital Inc. (collectively, the "Underwriters") to sell 62,150,000
common shares of the Company (the "Common Shares") at a price of Cdn$0.42 per
Common Share to raise gross proceeds of Cdn$26,103,000 (the "Offering").


The Underwriters have also been granted an option to purchase up to an
additional 9,322,500 Common Shares on the same terms and conditions as the
Offering, exercisable at any time, in whole or in part, up to 30 days from the
closing of the Offering (the "Over-Allotment Option"). If the Over-Allotment
Option is exercised in full, the total gross proceeds to MagIndustries will be
Cdn$30,018,450.


The Offering is scheduled to close on or about June 22, 2009 and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals, including the final approval of the TSX Venture Exchange.


The net proceeds of the Offering will be applied toward the construction of
Phase I of the Company's potash project near Mengo in the Kouilou province of
the Republic of Congo, including construction of a portion of the natural gas
pipeline, purchasing of materials, services and equipment, and acceleration of
engineering work.


The Common Shares offered have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the Common Shares
in any jurisdiction in which such offer, solicitation or sale would be unlawful.


About MagIndustries Corp.

MagIndustries is a Canadian company whose common shares are listed on the
TSX-Venture Exchange and trades in Canadian currency under the symbol "MAA". The
Company has 288,079,962 shares outstanding on an undiluted basis. MagIndustries'
resource subsidiaries are operating and developing major industrial projects in
the Republic of Congo and the Democratic Republic of Congo. More information on
the Company is available at its website, www.magindustries.com.


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.


"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.

Magindustries Corp (Tier2) (TSXV:MAA)
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