April 30, 2009 14:37 ET

Nordex Explosives Announces $200,000 Debt Financing With the BDC to Expand Bulk Emulsion Service Offerings

MISSISSAUGA, ONTARIO--(Marketwire - April 30, 2009) -


LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) ("Nordex") announces that it has finalized a loan agreement with the Business Development Bank of Canada (the "BDC") in the amount of $200,000.

The purpose of the loan is to finance an additional bulk emulsion truck, as well as to supply additional working capital for related equipment purchases. Mr. John Kozak, President of Nordex stated "The market response to our new emulsion plant and emulsion products has been extremely positive. Due to the increased demand for our products and services, we are expanding our bulk explosives fleet and equipment as well as our service capabilities."

The term of the loan is seven years and the interest rate is a floating rate currently at 7.25% per year calculated as the BDC's Floating Base Rate plus a variance of 3.00%. On the date hereof, BDC's Floating Base Rate is 4.25% per year. Interest is payable monthly on the loan commencing immediately. The loan is secured by a general security agreement over the company's assets. The first payment of principal in the amount of $2,460 will occur on June 1, 2009 and thereafter 83 monthly principal payments of $2,380 will commence on July 1, 2009.

The loan is in addition to other previously arranged secured financing obtained by Nordex from the BDC on which $945,560.00 was outstanding on April 1, 2009.

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. 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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