December 18, 2006 13:14 ET

Nordex Explosives Announces Grant of Options

KIRKLAND LAKE, ONTARIO--(CCNMatthews - Dec. 18, 2006) -

Not for U.S. Distribution

NORDEX EXPOSIVES LTD. (TSX VENTURE:NXX) announces that at a meeting of its Board of Directors on Friday, December 15, 2006 directors approved the granting of 35,000 options to purchase common shares in the capital of the company to John Kozak, President of the company, pursuant to the Stock Option Plan approved by shareholders at the annual and special meeting of shareholders held on June 15, 2001.The options will vest as to 1/3 in each of the first three years of their life, and will expire of December 14, 2011 The exercise price for the options has been set at $0.50 per share, based on the average of the bid and ask prices at the close of trading on December 14, 2006, being the previous trading day to the date of granting, in accordance with the terms of the Stock Option Plan.

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".

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

Contact Information

  • Nordex Explosives Ltd.
    John Kozak
    President & CEO
    (416) 907-6933
    (416) 907-9520 (FAX)