Superior Plus Corp. Announces Completion of Common Share Financing for Net Proceeds of $138 Million

TORONTO, ONTARIO--(Marketwired - Oct. 28, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Superior Plus Corp. ("Superior" or the "Corporation") (TSX:SPB) is pleased to announce the successful closing of the issue and sale today of 13,888,895 common shares in the capital of the Corporation ("Common Shares") at a price of $10.35 per Common Share (the "Offering"). The net proceeds from the Offering, which included the full exercise of the over-allotment option granted to the underwriters, after deducting issue costs and commissions are approximately $138 million.

The Common Shares were offered to the public through a syndicate of underwriters co-led by National Bank Financial Inc. and J.P. Morgan Securities Canada Inc., and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., RBC Dominion Securities Inc., Cormark Securities Inc., Raymond James Ltd. and AltaCorp Capital Inc. As previously announced Superior intends to use the net proceeds from the Offering to reduce indebtedness under the credit facility and for general corporate purposes. The Common Shares are traded on the Toronto Stock Exchange under the symbol "SPB".

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, nor any State securities laws, and may not be offered or sold in the United States of America absent such registration or the availability of an exemption from such registration.

About the Corporation

Superior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates, providing fixed-price energy services, and supply portfolio management; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.

For further information about Superior, please visit our website at: www.superiorplus.com.

Forward-Looking Information

Certain information included in this news release is forward-looking, within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "could", "estimate", "expect", "plan", "intend", "forecast", "future", "guidance", "may", "predict", "project", "should", "strategy", "target", "will" or similar words or phrases suggesting future outcomes or language suggesting an outlook. Forward-looking information in this news release includes the use of the net proceeds from the Offering. 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 provided for the purpose of providing information about management's expectations and plans about the future and may not be appropriate for other purposes. Forward-looking information herein is based on various assumptions and expectations that Superior believes are reasonable in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Those assumptions and expectations are based on information currently available to Superior, including information obtained from third party industry analysts and other third party sources, and the historic performance of Superior's businesses. Such assumptions include anticipated financial performance, current business and economic trends, business prospects, availability and utilization of tax basis, regulatory developments, currency, exchange and interest rates, trading data, cost estimates and Superior's ability to obtain financing on acceptable terms, and are subject to the risks and uncertainties set forth below.

Readers are cautioned that the preceding list of assumptions is not exhaustive. Forward-looking information is not a guarantee of future performance. By its very nature, forward-looking information involves numerous assumptions, risks and uncertainties, both general and specific. Should one or more of these risks and uncertainties materialize or should underlying assumptions prove incorrect, as many important factors are beyond Superior's control, Superior's actual performance and financial results may vary materially from those estimates and intentions contemplated, expressed or implied in the forward-looking information. These risks and uncertainties include: incorrect assessments of value when making acquisitions, increases in debt service charges, the loss of key personnel, fluctuations in foreign currency and exchange rates, inadequate insurance coverage, liability for cash taxes, counterparty risk, compliance with environmental laws and regulations, operational risks involving Superior's facilities, force majeure, labour relations matters and Superior's ability to access external sources of debt and equity capital. These risks, as well as additional risks and uncertainties are described under the section entitled "Risk Factors to Superior", in Superior's second quarter management's discussion and analysis and in Superior's 2014 Annual Information Form under the heading "Risk Factors", each of which is available electronically on SEDAR under the profile of Superior which can be accessed at www.sedar.com. Readers are cautioned that the foregoing list of factors that may affect future results is not exhaustive. Forward-looking information contained in this news release is provided for the purpose of providing information about management's goals, plans and range of expectations for the future and may not be appropriate for other purposes. When relying on Superior's forward-looking information to make decisions with respect to Superior, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.