The securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period. The proceeds of the Offering will be used for exploration and general working capital purposes. The proceeds received from the amount allocated to the FT Shares will be used to incur Canadian Exploration Expenses as defined by the Income Tax Act (
It is anticipated that insiders of the Company and their joint actors may subscribe for up to 25% of the securities pursuant to the Offering. The participation of each insider will be subject to the approval of directors of the Company who are independent of that insider. Any such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Since both the fair market value of the securities to be issued to insiders and the cash consideration to be paid for such securities will not exceed 25% of
Use of proceeds will be to further develop and explore the
The Offering is subject to the approval of the
CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, use of proceeds from the Offering, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. Please see our public filings at www.sedar.com for further information.
Shares Outstanding: 138,456,284
FOR FURTHER INFORMATION PLEASE CONTACT:
Superior Copper Corporation John TaitPresident and Chief Executive Officer 416-628-5905 firstname.lastname@example.org Source: Superior Copper Corporation