Opta Minerals Expands into Eastern Europe and Expands Credit Facilities

On September 4, 2007, Opta Minerals Inc. (TSX:OPM), a vertically integrated producer, manufacturer, distributor and recycler of silica-free loose abrasives, roofing shingle granules, industrial minerals, specialty sands and related products, announced that it had acquired 100% of the outstanding common shares of Newco a.s. of Kosice, Slovakia. Newco is a manufacturer of proprietary desulphurization and refractory products and the acquisition is expected to expand Opta Minereal’s business capabilities into Europe and complement its existing operations in both the United States and Canada. The aggregate purchase price of approximately US$16.1 million was satisfied by a combination of US$9.1 million in cash, a promissory note and the issuance of one million common shares of Opta Minerals.

In connection with the acquisition, Opta Minerals refinanced its credit facilities, adding approximately US$18.0 million in available financing before the acquisition of Newco. The new credit facilities include an operating line of credit in the amount of $12.5 million, a term loan facility in the amount of $12.5 million and an acquisition facility in the amount of $20.0 million.

Wildeboer Dellelce LLP acted as Canadian counsel to Opta Minerals with a team that included Troy Pocaluyko, James Brown and Lisa Cunningham corporate/securities) and Chris Partridge (banking).