January 04, 2008 11:33 ET

Nordex Explosives Announces Advance of Working Capital Loan From the Business Development Bank of Canada

MISSISSAUGA, ONTARIO--(Marketwire - Jan. 4, 2008) -


LES EXPLOSIFS NORDEX LTEE. / NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) announces that it has been advanced $400,000 from the Business Development Bank of Canada (the "BDC") under the BDC Working Capital Loan previously announced by the company on April 23, 2007. BDC agreed to lend Nordex up to $400,000 for the purpose of replenishing working capital used by the Corporation for capital expenditures. The BDC Working Capital Loan is secured by a general security agreement over the Corporation's assets and mortgages over the Corporation's real property assets.

The BDC Working Capital Loan will be repayable in monthly instalments of interest and monthly instalments of principal in the amount of $2,250 and will be for a term of 179 months. Interest is paid monthly on the outstanding principal at a rate of 8.2%. The interest rate on the loan may reduce if Nordex achieves certain financial ratios in its audited statements for the year ending December 31, 2007 and subsequent years.

Forward-Looking Statements

This press release contains forward-looking statements based on current expectations. These forward-looking statements contain various risks and uncertainties which could cause actual results to differ materially from those reflected in the forward-looking statements. Risks and uncertainties about the Company's business are more fully disclosed in the disclosure materials, financial statements and MD&A filed with the securities regulatory authorities in Canada on

ABOUT NORDEX EXPLOSIVES: LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) is a developer, manufacturer and distributor of explosives for the mining, quarry and road construction industries. Founded in 1970, its manufacturing operations and distribution centre is strategically located in one of the world's largest mining regions near Kirkland Lake, Ontario.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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