Mr. Jim Taylor reports

NORDEX EXPLOSIVES LTD. ANNOUNCES SECOND CLOSING OF FINANCING

Nordex Explosives Ltd. has closed the second tranche of its previously announced private placement offering with All Group Financial Services Inc. Nordex today issued 522,500 common shares at a price of 40 cents per share for gross proceeds to the company of $209,000. It is currently anticipated that a further closing or closings will be completed during April, 2012, under the offering.

The net proceeds of the offering will be used to finance continuing investment in the company's distribution system and to replenish working capital. The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSX Venture Exchange. The common shares issued today will be subject to resale restrictions until July 28, 2012, under applicable securities legislation.

In connection with the offering, All Group was paid a cash commission in an amount equal to 8 per cent of the gross proceeds of the offering and was issued broker warrants in an amount equal to 8 per cent of the number of common shares sold in the second tranche of the offering, with each such broker warrant exercisable to acquire one common share of the company until March 27, 2014, at the offering price. The broker warrants issued today and the underlying common shares will be subject to resale restrictions until July 28, 2012, under applicable securities legislation.

We seek Safe Harbor.