Nevada Chemicals, Inc. 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.