Opta Minerals Inc.

Opta Minerals Inc.

August 21, 2007 09:26 ET

Opta Minerals Inc. Change in Credit Facilities

WATERDOWN, ONTARIO--(Marketwire - Aug. 21, 2007) - Opta Minerals Inc. (Opta) (TSX:OPM) announced today that the Company has refinanced its credit facilities with the Bank of Nova Scotia, adding approximately $18 million U.S. in available financing. The new credit facilities agreement includes an operating line of credit in the amount of $12.5 million; a term loan facility in the amount of $12.5 million and an acquisition facility in the amount of $20.0 million. The operating line of credit and term loan facilities will be utilized to retire the existing bank debt and for general corporate purposes. The credit facilities are collateralized by a first priority security against substantially all of the Company's assets in both Canada and the United States.

Opta Minerals' President and CEO, David Kruse said "These increased facilities will provide Opta Minerals with the resources necessary to continue its strong growth through acquisitions, the building of new facilities in strategic locations, and investments in growing markets. We expect Scotiabank's numerous resources, capabilities and relationships abroad to be critical to Opta's growth within North America and beyond."

About Opta Minerals Inc.

Opta Minerals Inc. is a vertically integrated producer, manufacturer, distributor and recycler of silica-free loose abrasives, roofing shingle granules, industrial minerals, specialty sands and related products for use primarily in the foundry, steel, marine/bridge cleaning, roofing shingle and municipal water filtration industries. With its head office in Waterdown, Ontario, the Company also has production and distribution facilities in Ontario, Quebec, Louisiana, South Carolina, Virginia, Maryland, Ohio, Indiana, Michigan and New York and one of the broadest product lines in the industry.

Forward-Looking Statements

Certain statements included in this press release may constitute "forward-looking statements". These forward-looking statements include, but are not limited to references to business strategies, competitive strengths, goals, capital expenditure plans, business and operational growth plans and references to the future growth of the business. These forward looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its interpretation of current conditions, historical trends and expected future developments as well as other factors that the Company believes are appropriate in the circumstance. However, whether actual results and developments will agree with expectations and predications of the Company is subject to many risks and uncertainties including, but not limited to; general economic, business or market risk conditions; competitive actions by other companies; changes in laws or regulations or policies of local governments, provinces and states as well as the governments of United States and Canada, many of which are beyond the control of the Company. Consequently all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized.

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