KIRKLAND LAKE, ONTARIO--(Marketwire - June 15, 2012) - NORDEX EXPLOSIVES LTD. (NXX.V) ("Nordex" or the "Company") is pleased to announce the results of its annual and special meeting of shareholders held in Montreal on June 14, 2012. The shareholders re-elected Dr. Lee Michael Luciani and James O'Reilly and elected Peter Crossgrove, Thor E. Eaton and Joseph Hunnisett to the Board.
Mr. Crossgrove is the former Chairman and a founder of Masonite International Corporation, a door manufacturing company, and a director of the Canadian Partnership Against Cancer. Mr. Crossgrove holds a Bachelor of Commerce degree from Concordia University and a Master's degree in Business Administration from the University of Western Ontario. He is also a Sloan Fellow of the Doctoral Program at Harvard Business School. Mr. Crossgrove is a recipient of the Queen's Jubilee Medal, a Member of the Order of Canada, and a Member of the Order of Ontario. Mr. Crossgrove is currently the Executive Chairman of Excellon Resources Inc., a producer of silver-lead and silver-zinc concentrate. Prior to January 1993, Mr. Crossgrove was Vice Chairman and Acting Chief Executive Officer of Placer Dome Inc.
Mr. Eaton is a highly regarded and well known businessman and philanthropist. He is currently the President of Notae Investments Limited and serves as a Director of Eaton's of Canada Inc., Excellon Resources Inc. and Metaris Inc. He has previously served as a Director of Lateegra Gold Corp. (2010 - 2011), West Timmins Mining Inc. (2006 - 2009), and Band-Ore Resources Ltd. (1996 - 2006). From 1973 to 1999, he was a Director of T. Eaton Co. Ltd. Mr. Eaton is a Trustee of The Thor E. & Nicole Eaton Family Charitable Foundation. The Foundation has contributed to the livelihood of hospitals, environmental groups and Canadian cultural institutions, such as the Royal Ontario Museum, St. Michael's Hospital, the National Ballet of Canada, the Pontifical Institute of Mediaeval Studies, and the Atlantic Salmon Association.
Mr. Hunnisett is a graduate of Laurentian University, Sudbury, Ontario in 1981 with an Honours Bachelor of Commerce Degree. He is a Chartered Accountant and has worked with Clarkson Gordon (now Ernst & Young). He has worked with several large manufacturing and distribution companies in a variety of senior financial and executive positions including Corporate Controller, Director of Manufacturing, CFO, President & CEO. In 1992, he joined ETI Explosives (a former Dupont Company) and served for 9 years as President & CEO. He also served on the ETI Board of Directors from 2000 to 2006. In 2006, Joe founded Ercott Capital Inc. and has served as its President and CEO since incorporation.
Nordex thanks Jacques Levesque, Adel Amin and Andrew Bruziewicz for their service to the Company and wishes them well in their future endeavours.
In addition, the shareholders approved the Company's 10% rolling stock option plan pursuant to TSX Venture Exchange ("TSXVE") policies, the continuance of the Company under the Canada Business Corporations Act, the creation of a share bonus plan for employees, officers and directors and new bylaws of the Company, repealing and replacing all current bylaws. Continuance of the Company is subject to approval by the Board of Directors and the TSXVE. The rolling stock option plan and the share bonus plan are subject to the approval of the TSXVE.
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 is the exclusive supplier of the Econotrim and Ezicharge Johnex Explosives products in Canada. Nordex trades on the TSX Venture Exchange under the symbol "NXX".
Additional Information relating to the Company is available on SEDAR at www.sedar.com.
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.