Evergreen Resources Holding Acquires Additional Shares of MagIndustries

Evergreen Resources Holding Acquires Additional Shares of MagIndustries 
TORONTO, ONTARIO -- (Marketwire) -- 03/18/13 -- Evergreen Resources
Holding (BVI) Ltd. (the "Offeror") announced its acquisition of
295,770,211 common shares in the capital of MagIndustries Corp.
("MagIndustries") as a result of the conversion of its $50,653,425
principal amount loan to MagIndustries. The common shares were issued
at a deemed issue price of $0.1713 per share. This issuance of shares
brings the number of common shares owned or over which the Offeror
has control or direction to 653,008,894 common shares representing
approximately 86% of the total issued and outstanding common shares
of MagIndustries. 
The Offeror exercised the conversion feature to improve
MagIndustries' balance sheet. The Offeror may, directly or
indirectly, depending on market and other conditions, acquire
beneficial ownership of, control or direction over, additional common
shares of MagIndustries, through market transactions, private
agreements or otherwise, in accordance with applicable securities
legislation. The Offeror may, depending on market and other
conditions, sell any or all of their respective common shares.
Contacts:
Evergreen Resources Holding (BVI) Ltd.
Zhijun Shen
+86-21-5230-4085 
Evergreen Resources Holding (BVI) Ltd.
Quastisky Building, P.O. Box 4389
Road Town, Tortola, British Virgin Islands
 
 
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