Toronto, Ontario (February 6, 2004)
Les Explosifs Nordex Ltee. / Nordex Explosives Ltd. (TSX Venture Exchange NXX) announced today that the Board of Directors of the Corporation is initiating a private placement in Ontario, of up to CDN $275,000.00 consisting of up to 2,750,000 Common Shares, with a minimum of CDN $150,000.00, at a price of $0.10 per Common Share. The Corporation currently has 3,314,777 Common Shares outstanding, with 588,777 of those Common Shares held in the corporate treasury.
The net proceeds of the offering will be used for the expansion of the Corporation’s existing manufacturing facilities, corporate overhead 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.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to, or for the benefit of U.S. persons except in certain transactions exempt from the registration requirements of such Act. This news release shall not constitute an offer to sell, nor the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be lawful.
The private placement is subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange.
“Nordex” is a Canadian based business incorporated under the laws of the Province of Quebec. “Nordex” trades on the TSX Venture Exchange under the symbol ANXX@. The Corporation manufactures explosives for the mining industry from its manufacturing operations in Dane, Ontario, a small town near Kirkland Lake. The Corporation continues to maintain its manufacturing explosives licence in good standing and is researching the possibility of expanding production and offering new explosive products for the mining industry.
Certain statements in this release may constitute “forward-looking statements” and involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any performance or achievements expressed or implied by such forward looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
Further Information:
Timothy Peterson, President
(416) 702 4327
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