Nevada Chemicals, Inc. to Be Acquired

  
    
  
  
    
      Nevada Chemicals, Inc. (Nasdaq: NCEM) announced that it has signed a 
      definitive agreement to be acquired by Calypso Acquisition Corp., an 
      affiliate of Cyanco Holding Corp. and OCM Principal Opportunities Fund 
      IV, L.P., a fund managed by Oaktree Capital Management, L.P., for $13.37 
      per share of common stock. The transaction has been structured as a cash 
      tender offer for 100% of Nevada Chemicals’ 
      outstanding common stock. The offer price represents approximately a 
      36 percent premium over the closing stock market price of Nevada 
      Chemicals’ common stock on September 5, 2008. 
      Calypso Acquisition intends to commence the offer within approximately 
      ten business days. The transaction has been unanimously approved by each 
      company’s board of directors. Additionally, 
      Nevada Chemicals stockholders who own approximately 41 percent of Nevada 
      Chemicals’ outstanding common shares, in the 
      aggregate, have committed to tender their shares in the tender offer. 
      Additional details regarding the tender offer and the transaction will 
      be disclosed in tender offer documents that will be filed concurrently 
      with commencement of the tender offer.
    
    
      Additional Information
    
    
      The tender offer described in this release has not yet commenced, and 
      this release is neither an offer to purchase nor a solicitation of an 
      offer to sell securities. At the time the tender offer is commenced, 
      Calypso Acquisition will file a tender offer statement with the United 
      States Securities and Exchange Commission (the “SEC”). 
      Investors and security holders are strongly advised to read the tender 
      offer statement (including the offer to purchase, letter of transmittal 
      and related tender offer documents) that will be filed and the related 
      solicitation/recommendation statement that will be filed by Nevada 
      Chemicals with the SEC, as they will contain important information. 
      These documents will be available at no charge on the SEC’s 
      Internet website at www.sec.gov. Nevada 
      Chemicals’ stockholders can also obtain free 
      copies of the solicitation/recommendation statement, along with any 
      documents Nevada Chemicals has filed with the SEC, by request to Nevada 
      Chemicals, Inc. at 9149 S. Monroe Plaza Way, Suite B, Sandy, UT 84070, 
      telephone: [phone].