I agree and there are 2 factors that could have now kicked in after the probe. Being That Qingashi Salt is back in the deal to be a partner on the project. 2....The Evergreen boss was suspected of diverting Funds meant for the project back to Evergreen. These loans had been backed by EXIM, with all Evergreen shares used as collateral...Exim could have taken over, due to the fact that the project was not going forward, and the scandals....here are the PRs
1
PRESS RELEASE
MagIndustries Corp.
EXCHANGE: TSX (MAA)
Cusip: 55917T 102
For immediate release
Toronto, Canada: December 21,
2012
MAGINDUSTRIES ANNOUNCES PLEDGE OF ITS SHARES BY EVE
RGREEN
MagIndustries Corp. (“MagIndustries” or the “Compan
y”) (TSX:MAA) announced today that in connection wi
th certain
loans made to Evergreen Resources Holding (BVI) Ltd.
, (“Evergreen BVI”), the holder of 357,238,683 commo
n shares, or
approximately 77.6% of MagIndustries, Evergreen BVI
has entered into a share pledge agreement with the
Export-Import
Bank of China (“China EXIM”) under which Evergreen B
VI has pledged all 357,238,683 common shares of the
Company it
owns as collateral for such borrowings. MagIndustr
ies is not a party to the loans nor any associated
obligations.
About MagIndustries Corp.
MagIndustries is a Canadian company whose common sh
ares are listed on the TSX and trades in Canadian cu
rrency under
the symbol "MAA". The Company has 460,172,463 share
s outstanding on an undiluted basis. MagIndustries
is focused on
the development of its potash assets in the Republi
c of Congo. More information on the Company is avai
lable on its
website,
www.magindustries.com
.
For further information contact:
Mr. Will Burton
CFO, VP Finance
MagIndustries Corp.
P: 416-368-7911
Email:
willburton@magindustries.com
---------------------------------------------------
---------------------------------------------------
---------------------------------------------
Qinghai Salt Lake Industry Company Limited
Resumes
Trading
as Discussions
C
ontinue
with MagIndustries on a Potential Investment
Toronto, Ontario
–
July
15
, 2015
–
MagIndustries Corp.
(TSX: MAA) (the "
Company
" or
“
MagIndustries
”) announced today that further to its press release
s
of
February 9, 2015
,
April
6
, 2015
and July 7, 2015
,
that
discussions
are continuing
with Qinghai Salt Lake Industry
Company Limited (“
Salt Lake
”) concerning
the potential investment
referred to therein
.
Salt Lake
,
an A share listed company on the Shenzhen Stock Exchange
,
announced
yesterday
that it has continued discussions with MagIndustries concerning a potential investment in the
Company or its assets. B
ecause of uncertainty that an agreement can be reached
regarding the
terms of any particular investment in the assets or securities of MagIndustries, in order to follow
fair disclosure obligations to the public, and avoid unusual fluctuations of its stock
price in the
market, Salt Lake
entered
a trading halt from July 8, 2015
to July
14
, 2015
. Salt Lake
resumed
trading
on July
15
, 2015
and confirmed that discussions continue with MagIndustries.
There is no certainty that an agreement can be reached upon
terms of any particular investment
in the assets or securities of MagIndustries.
Furthermore any such investment may require
regulatory and/or shareholder approval
in order
to be completed.
About Qinghai Salt Lake Industry Company Limited
Salt Lake is controlled by
the
Qinghai State
-
owned
A
ssets
S
upervision and
M
anagement
C
ommission.
Salt Lake is the largest domestic producer of potash in China
based on operation
