May 13, 2008 15:23 ET

Nordex Explosives Announces Results of Annual Meeting

MISSISSAUGA, ONTARIO--(Marketwire - May 13, 2008) -


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 8, 2008, A. Timothy Peterson, John Kozak, Bruce Bent, John Huxley and Jules Roy were elected as directors of the Corporation, and that N.R. McLeod was re-appointed as auditor of the Corporation.

At the 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 3,000,000 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 authorizing the Corporation to establish a new stock option plan, (the "New Stock Option Plan") which will be 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 New 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. Under the terms of the New Stock Option Plan, the 371,667outstanding options issued under the prior stock option plan of the Corporation, which was approved by Shareholders at the Annual and Special Meeting of Shareholders held on May 17, 2007, will be deemed to have been issued under the New Stock Option Plan. TSX Venture Exchange policies require that a rolling stock option plan be approved by the shareholders of the Corporation at each annual general meeting.

Implementation of the new Stock Option Plan is subject to the receipt of necessary regulatory approvals by the Corporation, and the exercise price of any options granted under the plan will be not less than the Discounted Market Price of the common shares of the Corporation at the date of the granting of any options, or such other price as may be determined under the applicable rules and regulations of all regulatory authorities to which the Corporation is subject, including the TSX Venture Exchange.

At a meeting of the Board of Directors subsequent to the Annual and Special Meeting of Shareholders, Mr. Bent, Mr. Huxley and Mr. Roy were appointed as members of the Audit Committee and the Compensation Committee.

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 the accuracy of this release.

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