Superior Plus Announces Completion of Common Share Financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/TSX: SPB
The Common Shares were offered to the public through a syndicate of underwriters which was co-led by National Bank Financial Inc., TD Securities Inc., and Scotia Capital Inc., and included CIBC World Markets Inc., BMO Capital Markets and Cormark Securities Inc. As previously announced, Superior intends to use the net proceeds from the financing to partially finance the acquisition of certain assets from Griffith Energy Services, Inc. ("Griffith") which make up a retail heating oil, propane and motor fuels distribution business The Common Shares of Superior are traded on the
About the Corporation ---------------------
Superior is a diversified corporation. Superior holds 100% of Superior Plus LP, a limited partnership formed between Superior General Partner Inc., as general partner and Superior as limited partner. Superior is focused on stability of dividends with value growth. Superior Plus LP consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates and related fixed-price energy services; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.
The Corporation's common shares and convertible debentures trade on the TSX as follows:
Trading Symbol Security Issued and Outstanding ------------------------------------------------------------------------- SPB Common Shares 100.0 million SPB.db.b 5.75% Debentures, Series 1 $174.9 million principal amount SPB.db.c 5.85% Debentures, Series 1 $ 75.0 million principal amount SPB.db.d 7.50% Debentures $ 69.0 million principal amount -------------------------------------------------------------------------
Forward Looking Information
Certain information included in this Press Release is forward-looking, within the meaning of applicable Canadian securities laws. Much of this information can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words. In particular, this press release includes forward-looking information pertaining to the completion of the acquisition of Griffith. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
Forward-looking information is based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, risks associated with the ability to satisfy regulatory and commercial closing conditions of the acquisition. Forward looking information contained in this press release is made as of the date hereof and is subject to change. The Corporation assumes no obligation to revise or update forward looking information to reflect new circumstances, except as required by law.
For further information: about Superior Plus, please visit our website at: www.superiorplus.com or contact: Wayne Bingham, Executive Vice-President and Chief Financial Officer, Tel: (403) 218-2951, Fax: (403) 218-2973, E-mail: [email protected] or Jay Bachman, Vice-President, Investor Relations and Planning, Tel: (403) 218-2957, Fax: (403) 218-2973, E-mail: [email protected], Toll Free: 1-866-490-PLUS (7587)
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