SOPerior Provides Default Status Update
Toronto, Ontario--(Newsfile Corp. - June 2, 2020) - SOPerior Fertilizer Corp. (TSX: SOP) ("SOP" or the "Company") is providing a default status report in accordance with the alternative information guidelines set our in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").
On May 15, 2020, the Company announced (the "Default Announcement") that it had not filed its annual financial statements and management discussion and analysis for the year ended December 31, 2019, the interim financial statements and management discussion and analysis for the interim period ended March 31, 2020, together with the related certification of filings under National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the "Continuous Disclosure Documents") by the prescribed deadline of March 31, 2020 and May 15, 2020, respectively.
There have been no material changes to the information contained in the Default Announcement or any other changes required to be disclosed under NP 12-203.
The Company anticipates that the Continuous Disclosure Documents will be filed prior to June 13, 2020. The Company will continue to provide bi-weekly updates, as contemplated by NP 12-203, until the Continuous Disclosure Documents have been filed. In the event that the Company does not file the Continuous Disclosure Documents by June 13, 2020, the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the Company. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements.
NEITHER THE TORONTO STOCK EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
On Behalf of the Board of Directors
SOPERIOR FERTILIZER CORP.
"R. Bruce Duncan"
Executive Chairman and Director
About SOPerior Fertilizer Corp.
SOPerior Fertilizer Corp. is a Canadian based exploration and development company with a unique opportunity to develop a SOP and alumina rich material project into long-term mining production. The Company's Blawn Mountain Project consists of four areas of surface mineable alunite mineralization in the State of Utah. Alunite is a sulfate mineral ore rich in both SOP and alumina. Located in a mining friendly jurisdiction with established infrastructure nearby, the project covers approximately 15,404 acres of state-owned land and has a known permitting process. Extensive development was completed in the 1970s including a mine plan, feasibility study and 3-year pilot plant operation. SOPerior has a highly qualified and proven management team in place with significant financial, project management and operational experience and the ability to take projects into production.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
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