MagIndustries Corp. announced that the loan agreements approved at the Special Meeting of shareholders held on May 7, 2014. The first loan agreement, which has been fully drawn, is for a principal amount of CAD 53 million, bearing 10% interest, maturing December 31, 2015.

The second loan is for a principal amount of CAD 80 million of which CAD 31 million has already been advanced. The loan bears interest of 10% and matures on December 31, 2015.