TORONTO — Superior Plus Corp. (“Superior”) announces that, afterwards achievement of its cardinal analysis process, which complex the review, appraisal and agreement of academic offers for the auction of its Specialty Chemicals business which operates beneath the barter name ERCO Worldwide (“Specialty Chemicals”), it has assured that it is not in the shareholders’ best interests to advance with a auction of Specialty Chemicals at this time. Superior intends to abide to accomplish and advance in both the Energy Administration and Specialty Chemicals businesses, growing the businesses organically and through cardinal acquisitions.
“The sales action admiring ample absorption for Specialty Chemicals. The final bids, however, did not accommodated our expectations, and, at this point in time, we see college amount to our shareholders in continuing to run the business”, said Luc Desjardins, President and Chief Executive Officer. “We are absolute adequate continuing to own the chemicals business as we accept it generates able banknote breeze and has accomplished concise and abiding advance opportunities and we abide assured in our adeptness to abide to abound both businesses.”
CIBC Western Institutional Investor Conference
Luc Desjardins, President and CEO, and Beth Summers Executive Vice President and CFO, will be presenting at CIBC’s 23rd Annual Western Institutional Investor Appointment on Wednesday, January 29, 2020 at 10:35 am MST in Banff, Alberta. Interested parties can accept to a alive webcast and appearance the presentation slides via the afterward URL:
Restarting Allotment Reinvestment Program
Superior continues to assassinate on its retail propane administration tuck-in accretion action and has, during the accomplished ten months, acquired about $95 actor of retail propane administration assets. Accustomed that there will be no absolute auction of Specialty Chemicals and that Superior continues to assassinate on its retail propane administration tuck-in accretion strategy, Superior has bent to restart its Allotment Reinvestment and Optional Share Purchase Plan (“DRIP”), basic with the advancing February allotment which would be payable on or about March 13, 2020. Proceeds from the DRIP will be acclimated for debt abridgement and accepted accumulated purposes, which includes allotment such retail propane acquisitions. The DRIP will accommodate Superior’s shareholders with the befalling to reinvest their banknote assets in Superior at a 4% abatement to the bazaar amount of Superior’s accepted shares.
Beneath the accepted agreement of the DRIP, acceptable shareholders of Superior may accept to automatically reinvest their approved account assets in added accepted shares of Superior, afterwards incurring any commissions, account accuse or allowance fees. Shareholders who accept to reinvest banknote assets beneath the DRIP will accept accepted shares based aloft the boilerplate closing amount of the accepted shares on the Toronto Stock Exchange (“TSX”) for the five-day trading aeon catastrophe on the business day anon above-mentioned to the allotment acquittal date (the “Average Bazaar Price”). The amount of the accepted shares purchased with reinvested assets will be 96% of the Boilerplate Bazaar Price. Accepted shares purchased through the DRIP will be issued from treasury. Any alteration to the agreement of the DRIP will crave the above-mentioned approval of the TSX.
Beneficial shareholders who ambition to participate in the DRIP charge accommodate acceptance instructions to the broker, advance dealer, banking academy or added appointee through which they authority their accepted shares and should argue such appointee apropos the action and timelines for enrolling. Registered shareholders may accept in the DRIP by commutual an allotment anatomy and appointment the completed anatomy to Computershare Trust Company at the abode set out in the DRIP. Added advice on Superior’s DRIP, including the allotment anatomy for registered shareholders can be begin in the Investor Relations area of Superior’s website at www.superiorplus.com.
2019 Fourth Division and Year-End After-effects and Appointment Call
Superior expects to absolution its 2019 fourth division and anniversary after-effects on Thursday, February 20, 2020 afterwards bazaar close. A appointment alarm and webcast for investors, analysts, brokers and media assembly to altercate the 2019 Fourth Division and Year-End After-effects is appointed for 10:30 a.m. EST on Friday, February 21, 2020. To participate in the call, dial: 1-844-389-8661. Internet users can accept to the alarm live, or as an archived call, on Superior’s website at: www.superiorplus.com beneath the Events section.
About the Corporation
Superior consists of two primary operating businesses: Energy Administration includes the administration of propane and distillates, and accumulation portfolio management; and Specialty Chemicals includes the assembly and administration of specialty chemicals products.
For added advice about Superior, amuse appointment our website at: www.superiorplus.com.
Forward Attractive Information
Certain advice included herein is forward-looking, aural the acceptation of applicative Canadian balance laws. Such advice is about articular by words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “plan”, “intend”, “forecast”, “future”, “guidance”, “may”, “predict”, “project”, “should”, “strategy”, “target”, “will” or agnate expressions suggesting approaching outcomes. Advanced advice in this account absolution includes advanced attractive advice apropos to approaching advance prospects, advancing approaching assets and re-implementation of the DRIP. Superior believes the expectations reflected in such advanced advice are reasonable but no affirmation can be accustomed that these expectations will prove to be absolute and such advice should not be disproportionately relied upon.
Forward-looking advice is not a agreement of approaching performance. By its absolute nature, advanced advice involves inherent assumptions, risks and uncertainties, both accepted and specific, and risks that predictions, forecasts, projections and added advanced advice will not be achieved. Should one or added of these risks and uncertainties materialize, or should assumptions declared aloft prove incorrect, Superior’s absolute achievement and after-effects in approaching periods may alter materially from any projections of approaching achievement or after-effects bidding or adumbrated by such advanced information. We attention readers not to abode disproportionate assurance on this advice as a cardinal of important factors could account the absolute after-effects to alter materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions bidding in such advanced information.
Forward-looking advice independent in this account absolution is provided for the purpose of accouterment advice about management’s goals, affairs and ambit of expectations for the approaching and may not be adapted for added purposes. Any advanced advice is fabricated as of the date hereof and, except as appropriate by law, Superior does not undertake any obligation to about amend or alter such advice to reflect new information, consecutive or otherwise.
Beth Summers, Executive Vice President and Chief Banking Officer Tel: (416) 340-6015 or Rob Dorran, Vice President, Investor Relations and Treasurer Tel: (416) 340-6003 E-mail: [email protected] Toll Free: 1-866-490-PLUS (7587
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