Superior Mining International Corporation

Superior Mining International Corporation

October 15, 2009 08:30 ET

Superior Mining International Corporation: Closing of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2009) - Superior Mining International Corporation, (the "Company") (TSX VENTURE:SUI) is pleased to announce the closing of the previously announced non-brokered private placement (the "Financing") to raise gross proceeds to the Company of $720,000 by the issuance of 6,000,000 common shares of the Company at a price of $0.12 per common share. The Company has paid finders' fees totaling $47,100.80 in cash.

All securities issued in the Financing are subject to a hold period of four months from the date of their issuance under applicable Canadian securities laws.

Proceeds from the Financing will be used for additional work on the Company's New Zealand properties and for general corporate purposes.

On behalf of the Board of Directors of Superior Mining International Corporation

John Proust, President & CEO

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Superior Mining International Corporation
    John Proust
    (604) 601-2005
    (604) 488-0319 (FAX)