August 30, 2007 15:17 ET

Nordex Explosives Announces Private Placement

MISSISSAUGA, ONTARIO--(Marketwire - Aug. 30, 2007) -


LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) announced today that it is initiating a private placement of up to CDN $850,000.00 consisting of up to 1,307,692 Common Shares, with a minimum of $300,000.00 CDN or 461,538 Common Shares, at a price of $0.65 per Common Share. The Corporation currently has 5,659,333 Common Shares outstanding. The Closing Price for the Corporation's Common Shares on the TSX Venture Exchange on August 29, 2007, the trading day before this announcement was $0.68.

The net proceeds of the offering will be used for the expansion of the Corporation(s existing manufacturing facilities, working capital and for general corporate purposes.

The completion of this offering will occur following receipt of conditional acceptance of the private placement from the TSX Venture Exchange, and be subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange.

Officers, Directors and consultants of the Corporation, together with other insiders of the Corporation have indicated their intention to subscribe for up to 448,927 of the Common Shares offered under the Private Placement.

At its Annual and Special Meeting of Shareholders of the Corporation held on May 17, 2007, 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 1,500,000 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, subject to the Directors of the Corporation using their best efforts to offer any such shares to the exiting shareholders on a pre-emptory and pro-rate basis.

The Corporation will be relying upon the exemption contained in section 5.7(1)2. of Ontario Securities Commission Rule 61-501, from obtaining minority approval of shareholders to the transaction as the fair market value of the transaction, as it involves interested parties, does not exceed 25% of the Corporation's market capitalization. To the best of the knowledge and belief of the Corporation, the transaction will not result in the creation of any new insiders or control persons.

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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