May 25, 2009 12:54 ET

Nordex Explosives Announces Results of Annual Meeting

MISSISSAUGA, ONTARIO--(Marketwire - May 25, 2009) -


LES EXPLOSIFS NORDEX LTEE/NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) announces that at its Annual and Special Meeting of Shareholders, held in Montreal on May 22, 2009, Mr. Bruce Bent, Mr. John Huxley, Mr. John Kozak, Mr. A. Timothy Peterson and Mr. Jules Roy were elected as directors of the Corporation, and that N.R. McLeod was re-appointed as auditor of the Corporation.

At the same Meeting, shareholders approved a resolution authorizing the issuance by the Corporation of one or more private placements, of such number of securities that would result in the Corporation issuing or making issuable a number of common shares aggregating up to 4,500,000 common shares of the Corporation during the period ending one year from the date of the Meeting or until the next Annual and Special Meeting of shareholders, whichever is earlier. The Corporation at this time has no specific plans to issue any private placements.

Shareholders also approved a resolution at the Meeting authorizing the Corporation to continue the existing stock option plan, which is a "rolling" plan under which up to 10% of the issued and outstanding common shares of the Corporation from time to time, subject to adjustment in certain circumstances, may be issued. The purpose of the Stock Option Plan is to develop the interest of bona fide officers, directors, employees, management company employees and consultants of the Corporation in the growth and development of the Corporation by providing them with the opportunity through stock options to acquire an increased proprietary interest in the Corporation. TSX Venture Exchange policies require that a rolling stock option plan be approved by the shareholders of the Corporation at each annual general meeting.

At a meeting of the Board of Directors subsequent to the Annual and Special Meeting of Shareholders, Mr. John Kozak was reappointed as President and Chief Executive Officer and Mr. Jim Taylor was reappointed as Vice President, Operations, and Chief Operating Officer. Mr. Bruce Forth was reappointed as Secretary and Mr. Tom Gannon was reappointed as Chief Financial Officer. Mr. John Huxley, was appointed as Chairman of the Board of Directors replacing Mr. A. Timothy Peterson. The Company would like to thank Mr. Peterson for his contributions as Chairman.

At the same meeting of the Board of Directors, Mr. Bent, Mr. Huxley and Mr. Roy were each appointed as members of the Audit Committee and the Compensation Committee. A new Environmental, Health and Safety Committee was formed and Mr. Bent, Mr. Huxley and Mr. Roy were appointed as members.

Forward-Looking Statements - Not for U.S. Distribution

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. is a manufacturer and distributor of explosives for the mining, quarry and road construction industries since 1970. Its manufacturing operations and distribution centre is strategically located in one of the world's largest mining regions near Kirkland Lake, Ontario. Nordex trades on the TSX Venture Exchange under the symbol "NXX".

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.

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