SOPerior Fertilizer Provides Company Update
TORONTO, July 6, 2021 (GLOBE NEWSWIRE) – SOPerior Fertilizer Corp. (the “Company”) (TSXV: SOP.H). Following its press releases dated August 24, 2020 and October 2, 2020, the Company announces that the extended negotiations with the Original Counterparty to the proposed joint venture agreement and the larger resource transaction have been completed but that the Company is in negotiations with other interested parties to complete the same joint venture and the larger regional transaction. The Company hopes to announce an exclusivity agreement with one of the parties very soon. All parties are committed to concluding a transaction as soon as possible and starting operations, especially given the recent increase in commodity prices. The proposed joint venture transaction is part of a larger development plan for the region that would combine the development of the Blawn Mountain alunite interests with other nearby resource areas. Blawn Mountain’s samples include alumina, potassium sulphate fertilizers and sulfuric acid. Sulfuric acid accounts for a large portion of the cost of processing copper and other minerals, and the use of in-house produced sulfuric acid greatly improves profit margins on copper production.
In addition, the company announces the resignation of Richard Klue and Ian Smith from the board of directors and welcomes Alan Abrams to the board of directors. We would like to thank Richard and Ian for their service.
Mr. Alan Abrams is an executive who brings a wealth of experience in senior management roles over a career spanning more than 40 years. Alan has held a number of senior positions in various industries including mining, energy, materials and construction infrastructure in both the public and private sectors.
Mr. Abrams brings significant experience in building ground-level businesses and projects, including energy, precious metals, industrial metals and public infrastructure. He has experience building teams of key personnel, raising capital, implementing key growth strategies, meeting corporate budget constraints and managing large projects.
Currently, Mr. Abrams is CEO of Mogul Mountain Mining Company, a privately held precious metal exploration company with several prospects in Nevada. He recently retired from Atkinson Construction where he headed the underground construction division for several years. Mr. Abrams was a co-founder of Osum Oil Sands Corp., which reached a peak valuation of $ 2 billion and was recently purchased by Waterous Energy in Calgary. Mr. Abrams was also a former director of American Lithium. He holds a mining engineering degree from the Montana School of Mines.
On behalf of the board of directors
SOPERIOR FERTILIZER CORP.
CEO and director
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, which relate to future events or future performance and reflect the current expectations and assumptions of management. These forward-looking statements reflect the current beliefs of management and are based on assumptions made by and on 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 which 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 by applicable securities legislation, the Company assumes no obligation to update or revise them to reflect new events or circumstances. All forward-looking statements contained in this press release are qualified by these cautionary statements and those contained in our documents filed with SEDAR in Canada (available at www.sedar.com).