February 03, 2010 14:25 ET

Nordex Explosives Announces Requisition for Special Meeting Invalid

MISSISSAUGA, ONTARIO--(Marketwire - Feb. 3, 2010) -


LES EXPLOSIFS NORDEX LTEE/NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) announced on January 20, 2010 that it had received a letter purportedly signed by 3 dissident shareholders requisitioning the Company to call a special meeting of shareholders for to consider, and if thought advisable, to remove the current directors of the Company and to elect four nominees of the dissident shareholders as their replacements.

The current Board of Directors of Nordex consists of John Kozak, the President and CEO of the Company, John Huxley, Bruce Bent and Jules Roy. There is one vacancy on the Board of Directors since the resignation of A. Timothy Peterson in July of 2009.

After reviewing the books and records of Nordex, and other information available to the Company, and reviewing the requisition with its Quebec counsel, it was determined that the requisition was invalid. Accordingly, the Company has no plans at this time to call a special meeting of shareholders as requested.

Nordex is currently in the process of scheduling its Annual General Meeting of Shareholders, which is anticipated to be held in early May, 2010.

Forward-Looking Statements

Certain information included herein may contain ''forward-looking statements'' which reflect the current expectations of management of the Company regarding the Company's future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as ''may'', "would'', ''could'', ''should'', ''will'', ''anticipate'', ''believe'', ''plan'', ''expect'', ''intend'', ''estimate'', ''aim'', ''endeavor'', ''seek'', ''predict'', ''potential'' and similar expressions have been used to identify these forward-looking statements. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management of the Company. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward- looking statements, including, without limitation, cancellations of or the failure to renew purchase orders; production and delivery issues; quality, pricing and availability of raw materials; compliance with environmental regulations; exchange rate fluctuations as well as the other risks identified in the ''Risk Factors'' contained in the Company's Management Discussion and Analysis for the Third Quarter and other public filings (copies of which may be obtained at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and the reader should not place undue reliance on the forward-looking statements. Although any forward-looking statements contained in this press release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release, and, other than as required by law, the Company does not intend, and does not assume any obligation, to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

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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