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JAG Media Holdings, Inc. Announces Completion of Acquisition of CardioGenics Inc.
Date:7/31/2009

isition. With the required funds at hand, the commercialization of CardioGenics technology and products will proceed at a much faster pace to bring much-needed products to the In-Vitro-Diagnostics market," noted Yahia Gawad, CEO of CardioGenics.

Following the closing, the company intends to change its name to "CardioGenics Holdings Inc." in order to better reflect the new focus of the company's business. An information statement with respect to such name change and certain other matters will be delivered to stockholders of record prior to the effective date of such name change. The company has submitted its application to FINRA for approval of the name change and issuance of a new ticker symbol for the company's common stock. Until approval of the name change by FINRA and issuance of the new ticker symbol, the company's common stock will continue to trade on the OTCBB under its current ticker symbol "JAGH." Upon effectiveness of the name change, the CardioGenics Holdings Inc. common stock will also carry a new CUSIP number. There is no need for stockholders to exchange their current JAG Media common stock certificates for CardioGenics Holdings stock certificates once the name change becomes effective. However, should you nevertheless wish to exchange your JAG Media common stock certificates for certificates reflecting the CardioGenics Holdings name, you are free to do so and should contact the company's transfer agent, Transfer Online, to make such arrangements.

A Current Report on Form 8-K containing further details regarding our acquisition of CardioGenics will be filed by the company and will be available on EDGAR.

About JAG Media Holdings, Inc.

JAG Media Holdings, Inc. is a provider of Internet-based equities research and financial information that offers its subscribers a variety of stock market research, news and analysis, including "JAG Notes", the Company's flagshi
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SOURCE JAG Media Holdings, Inc.
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