Nordex Explosives Ltd.

Nordex Explosives Ltd.

May 20, 2011 14:00 ET

Nordex Explosives Ltd. Announces Results of Annual and Special Meeting of Shareholders

KIRKLAND LAKE, ONTARIO--(Marketwire - May 20, 2011) -


LES EXPLOSIFS NORDEX LTEE./NORDEX EXPLOSIVES LTD. (TSX VENTURE:NXX) ("Nordex" or the "Company") today announced the results of its annual and special meeting of shareholders held on May 19, 2011. Nordex is pleased to report that the incumbent Board of Directors consisting of Dr. Lino (Leo) Luciani, Jacques Levesque, Adel Amin, Andrew Bruziewicz and James O'Reilly (Chairman) were re-elected.

In addition, the shareholders of the Company approved the 10% rolling stock option plan, an increase in the authorized common share capital from 12,000,000 to an unlimited number, the creation of a new class of preference shares and certain amendments to the by-laws of the Company, all as set out in greater detail in the management information circular available at under the Company's profile.

Following the meeting, the Board confirmed Mr. O'Reilly as Chairman of the Board as well as Mr. Amin, Mr. Bruziewicz and Dr. Luciani as the members of the Audit Committee, with Mr. Amin continuing as Chairman of that committee. The Board also confirmed the members of the Compensation Committee (Mr. Levesque, Mr. Amin and Mr. Bruziewicz) and the Management Health & Safety Committee (consisting of the full Board).

James O'Reilly, the Chairman of the Board, stated, "We are pleased in the confidence the shareholders of Nordex have shown in the Board and look forward to continuing to advance our strategy of increasing our capabilities, as well as expanding our business and customer base to a larger geographic area. We are also pleased that we now have a mandate from our shareholders to modernize our share capital structure."

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".

Forward‐Looking Information – Not for U.S. Distribution

Certain information included herein contains "forward‐looking information" which reflects the current expectations of management of the Corporation regarding the Corporation's future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "forecast", "believe", "plan", "expect", "intend", "estimate", "aim", "endeavour", "seek", "predict", "potential" and similar expressions have been used to identify such forward‐looking information. Certain statements reflect management's current beliefs with respect to future events and are based on information currently available to management of the Corporation. Forward‐looking information involves significant risks, uncertainties and assumptions. Many factors could cause the Corporation'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 information, 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 Corporation's Management Discussion and Analysis and other public filings (copies of which may be obtained at www.sedar.comunder the Corporation's profile). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information 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 information. Although any forward‐looking information contained in this press release is based upon what management currently believes to be reasonable assumptions, the Corporation cannot assure readers that actual results, performance or achievements will be consistent with such forward‐looking information, 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 Corporation does not intend, and does not assume any obligation, to update or revise forward‐looking information, whether as a result of new information, future events or otherwise.

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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