Superior Plus Corp.

Superior Plus Corp.

November 14, 2011 10:22 ET

Superior Plus Announces Record Date for Redemption of $50 Million of Its 5.75% Convertible Debentures Due December 31, 2012

CALGARY, ALBERTA--(Marketwire - Nov. 14, 2011) - Superior Plus Corp. (TSX:SPB) ("Superior" or the "Corporation") is pleased to announce that the record date for the previously announced partial redemption of $50 million principal amount of 5.75% convertible unsecured subordinated debentures (the "2012 Debentures") due December 31, 2012 is December 12, 2011. As a result, 2012 Debentures purchased after December 12, 2011 will not participate in the partial redemption.

Assuming completion of this partial redemption and the previously completed partial redemption of $75 million principal amount of 2012 Debentures on November 7, 2011, the outstanding balance of the 2012 Debentures is expected to be approximately $49.95 million.

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.

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 proposed redemption of and expected outstanding balance of Superior's 2012 Debentures. 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. 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. Forward-looking information is provided for the purposes of providing information about management's current expectations and plans about the future. Reliance on such information may not be appropriate for other purposes, such as making investment decisions.

Contact Information

  • Superior Plus Corp.
    Wayne Bingham
    Executive Vice-President and Chief Financial Officer
    (403) 218-2951 or Toll Free: 1-866-490-PLUS (7587)
    (403) 218-2973 (FAX)

    Superior Plus Corp.
    Jay Bachman
    Vice-President, Investor Relations and Treasurer
    (403) 218-2957 or Toll Free: 1-866-490-PLUS (7587)
    (403) 218-2973 (FAX)