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Press release from Marketwire

Migao Approved for Normal Course Issuer Bid

Wednesday, June 15, 2011

Migao Approved for Normal Course Issuer Bid11:06 EDT Wednesday, June 15, 2011TORONTO, ONTARIO--(Marketwire - June 15, 2011) -Migao Corporation (the "Company") (TSX:MGO) announced today that the Toronto Stock Exchange ("TSX") has accepted its notice of intention to make a normal course issuer bid ("NCIB"). The notice provides that the Company may, during the 12-month period commencing June 17, 2011 and ending June 16, 2012, purchase up to 2,640,000 Common Shares in total, being approximately 4.99% of the Company's outstanding Common Shares. As of June 14, 2011, 52,890,661 Common Shares are outstanding. The aggregate number of Common Shares that the Company may purchase during any trading day will not exceed 45,657 Common Shares, being 25% of the average daily trading volume of the Common Shares based on the trading volume of the TSX for the most recently completed six calendar months preceding the date of the Company's notice of intention, subject to the Company's ability to make block purchases through the facilities of the TSX in accordance with the TSX rules. The Company believes that the purchase of its Common Shares is a worthwhile, value added use of its resources.Any purchases made pursuant to the NCIB will be made at market prices through the facilities of the TSX or other Canadian alternative markets as appropriate opportunities arise from time to time. The Company intends that purchases will be funded out of its available cash, and that any Common Shares acquired pursuant to the NCIB will be cancelled. The Company has not purchased any Common Shares during the previous year pursuant to any issuer bid.The Company also entered into a pre-defined plan (the "Automatic Purchase Plan") with its designated broker to allow for the repurchase of Common Shares at times throughout its NCIB when it ordinarily would not be permitted to repurchase Common Shares in the market due to its own internal trading blackout periods or regulatory requirements. Subject to certain parameters and restrictions, the Company's broker may purchase Common Shares under the Automatic Purchase Plan, during such times referred to above, provided that the Broker is not, at such times, in possession of undisclosed material information about the Company.About Migao Migao Corporation, through its wholly owned subsidiaries, owns and operates fertilizer production plants in various strategic locations across China for the production and sale of specialty potash fertilizer (potassium nitrate and potassium sulphate) to China's agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Migao's Sichuan facility is ISO 14001 certified, an international environmental management standard. Please visit www.migaocorp.com for further information.CAUTION REGARDING FORWARD-LOOKING STATEMENTS This news release may include forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Securities Act (Ontario) and other provincial securities laws in Canada. These forward-looking statements include, among others, statements with respect to our objectives and goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective", and "continue" (or the negative or grammatical variations thereof), and words and expressions of similar meaning, are intended to identify forward-looking statements.By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. Certain material factors or assumptions are applied in making forward-looking statements and actual results, performance or achievements may differ materially from those expressed or implied in such statements. We caution readers not to place undue reliance on forward-looking statements as a number of important factors, many of which are beyond our control, could cause actual results, performance or achievements to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors that relate to our company include, but are not limited to: risks related to raw materials; execution of the business plan; expansion plans; dependence on key personnel; key relationships; dependence on key customers; dependence on key suppliers; competition; market factors and volatility of commodity prices; environmental risks and hazards; operating risks; proprietary rights; infrastructure; future capital requirements; technical substitution; exchange rate fluctuations; insurance; foreign operations; tobacco industry considerations; weather conditions and natural disasters; control by management; seasonality; dividends; conflicts of interest; global financial conditions; and the implementation of the Labour Contract Law in the People's Republic of China in 2008. In addition to the foregoing risk factors, there are also risks related to doing business in China which include, but are not limited to: state ownership; government sector intervention; foreign investment; repatriation of profit and currency conversion; tax; shareholders' rights and enforcement of judgements; developing legal system; protection of intellectual property rights; permits and business licenses; appropriation; and availability of land. Should one or more of these factors materialize, or should our estimates or underlying assumptions prove incorrect, actual results, performance or achievements may vary materially from those described in forward-looking statements.We caution that the foregoing list of important factors that may affect our future results, performance or achievements is not exhaustive. When reviewing our forward-looking statements, readers should carefully consider the foregoing factors and other uncertainties and potential events. Additional information about factors that may cause actual results to differ materially from expectations, and about material factors or assumptions applied in making forward-looking statements, may be found under the "Risk Factors" sections in our Annual Information Form and annual MD&A and elsewhere in our filings with Canadian securities regulatory authorities. Except as required by Canadian securities laws, we do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf; such statements speak only as of the date made. We cannot assure readers that actual results, performance and achievements will be consistent with these forward-looking statements, and the differences may be material. The forward-looking statements included herein are expressly qualified in their entirety by this cautionary language.To be added to Migao's email distribution list for news releases or to be removed from the list, please send a request to info@migaocorp.com. FOR FURTHER INFORMATION PLEASE CONTACT: Jay HusseyMigao CorporationVice President Corporate Finance416-869-1108 ext. 104jay.hussey@migaocorp.comORRandall SmallboneMigao CorporationChief Financial Officer416-869-1108 ext. 103randall.smallbone@migaocorp.comwww.migaocorp.com