Magor Provides Update on the Previous Announced Strategic Review

OTTAWA, Oct. 26, 2016 /CNW/ - Magor Corporation (TSX-V:MCC), a leader in visual collaboration solutions, is pleased to provide you this update to its press release of September 29, 2016 wherein it announced that the Company would be conducting a strategic review process to explore alternatives to enhance shareholder value.

The board of directors of Magor has established a special committee of independent directors to lead this effort, with the assistance and support of management.  Today, the special committee has appointed Sampford Advisors Inc. as its financial advisor to pursue an effective process in exploring strategic alternatives.

About Magor Corporation:
Magor develops and markets visual collaboration software addressing the needs of meeting rooms, desktops and mobility devices, as part of a cloud service offering called Aerus.  Magor's Aerus service delivery platform removes the limitations of traditional video conferencing and collaboration tools to provide entirely new ways of interacting with video with the goal of creating new ways to be productive. To find out more about Magor Corporation (TSX-V: MCC), visit our website at http://www.magorcorp.com.

This news release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation.  Statements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties.  The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective", "hope", and "continue" (or the negative thereof), and words and expressions of similar import are intended to identify forward-looking statements.  Certain material factors or assumptions are implied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements.  Factors that could cause results to vary include those identified in the Corporation's filings with Canadian securities regulatory authorities, as well as the applicability of patents and proprietary technology; the outcome of pending corporate transactions; possible patent ligation; regulatory approval of products in development; changes in government regulation or regulatory approval processes; government and third party reimbursement; dependence on strategic partnerships; intensifying competition; rapid technological change in the industry; anticipated future losses; the ability to access capital; and the ability to attract and retain key personnel.  All forward-looking information presented herein should be considered in conjunction with such filings.  Except as required by Canadian securities laws, the Corporation does not undertake to update any forward-looking statements; such statements speak only as of the date made.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Magor Corporation

Brian Baker, Interim President and CEO, Magor Corporation, 613-686-1731 ext 5504, [email protected]