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MagIndustries Corp MAAFF

MagIndustries Corp is engaged in development and exploration of potash salt deposits. The company has two business units: MagMinerals and MagForestry. It is primarily engaged in the financing, developing and placing into production or operation of the projects such as potash plant, a potash exploration and eucalyptus plantation and chip mill. Geographically all the operations are functioned through the region of Canada.


GREY:MAAFF - Post by User

Bullboard Posts
Comment by moneydiggeron Jun 12, 2009 2:02pm
454 Views
Post# 16066465

RE: MagIndustries Corp. Announces it Has Signed a

RE: MagIndustries Corp. Announces it Has Signed a"The share subscription is also conditional on the Subscriber arranging substantially all of the debt financing required for the completion of Phase I of the Company's Kouilou Potash Project in the Republic of Congo (the "Project") as an alternative to debt financing that might be available to the Company from other sources. "


This confirms the phase 1 financing, so MAA has the money needed for this important stage.  This is awesome news.  Stock will react positively in a big way. Financing was a big question mark and this is the answer we got.  Awesome that they managed to come up with a premium of 68% compared to the private placement. (.42 cents)
GOOD JOB!
Bullboard Posts