MagIndustries Corp. Receives Statement of Claim

- March 17th, 2010

MagIndustries Corp. (TSX:MAA) reported that the company has received a Statement of Claim filed by Willy Verbrugghe, a former employee, in the Ontario Superior Court of Justice, made against the Company and its wholly owned subsidiary MagMinerals Potash Corp.

MagIndustries Corp. (TSX:MAA) reported that the company has received a Statement of Claim filed by Willy Verbrugghe, a former employee, in the Ontario Superior Court of Justice, made against the Company and its wholly owned subsidiary MagMinerals Potash Corp.

The press release is quoted as saying:

The claim relates to the alleged wrongful dismissal of Mr. Verbrugghe by Mag and MagMinerals Potash Corp. The damages claimed total Cdn$2 million, plus interest and costs. Mag is unaware of any fact or circumstance that would support the claims being made by Mr. Verbrugghe regarding the Company’s activities in the Republic of Congo and the Company’s dealings with its shareholders and third parties and believes that the claim is completely without merit. Mag intends to vigorously defend this action.

Click here to access the entire press release

Click here to access MagIndustries Corporate Site

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