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NXX

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Share Name Share Symbol Market Type
TSXV:NXX TSX Venture Common Stock
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Nordex Signs Letter of Intent for Expansion into Western Canada

11/03/2014 12:00pm

Marketwired Canada


Nordex Explosives Ltd. ("Nordex" or the "Corporation") (TSX VENTURE:NXX) is
pleased to announce the signing of a letter of intent ("Letter of Intent") with
a strategic private company ("Privco") for the initial principal business of
selling and distributing packaged explosives products, accessories and material
in western Canada. This Letter of Intent is for a proposed joint venture ("Joint
Venture") and outlines the formation, development and operation of a corporation
("Newco") owned 50% by Nordex and 50% by Privco. This Letter of Intent is
subject to the finalizing of definitive agreements. 


President Jim Taylor states; "This is an important milestone in the continued
expansion and development of Nordex Explosives. As an industry leader operating
in Ontario and with the exclusive rights to the "Buttbuster" line of explosives,
the next phase of our growth plan was to secure a footprint for the supply of
explosives to western Canadian based mining and construction companies. Our full
line of innovative and efficient explosives is the perfect fit with the
continued growth and development of the mining and construction industries of
western Canada."


Under the terms of this Joint Venture, Nordex and Privco will incorporate a
Company in a mutually agreed jurisdiction in Canada, and likely will be called
Nordex Explosives Western Canada Ltd. or such similar name. Newco's initial
principal business will be the selling and distributing of explosives in Western
Canada based on Nordex's proprietary technologies. Newco will have access to a
complete line of explosives including the "Buttbuster" perimeter control
products which are only available in North America through Nordex. Newco will
obtain all necessary permits, licenses and approvals for operating in this new
jurisdiction, and will begin operations immediately upon receipt. The new
location(s) in Western Canada will be strategically located relative to known
high density mining and construction areas to maximize the potential client
base. 


About Nordex Explosives

Nordex Explosives Ltd. is a Canadian based manufacturer and distributor of
explosives for the mining, quarry and 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 is the
exclusive supplier of the "Buttbuster" perimeter control explosive products in
Canada. Additional information can be found at www.nordexexplosives.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Capital Ideas IR
Dean Stuart
403 517 2270
dean@boardmarker.net


Nordex Explosives Ltd.
Jim Taylor
President and CEO
705 642 3265 extension 203
jtaylor@nordexexplosives.com
www.nordexexplosives.com

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