Superior Copper Issues Second Tranche of Shares Pursuant to Coppercorp Property Consolidation
16.12.2014 | Marketwire
TORONTO, Dec 16, 2014 - Superior Copper Corporation ("Superior Copper" or "the Company") (TSX VENTURE:SPC) announces that on December 11, 2014, a total of 2,318,681 common shares were issued to First Minerals Exploration Limited ("FMEL") in accordance with a purchase and sale agreement dated December 17, 2013 (the "Agreement"). These shares, representing the second of three staged issuances of shares that Superior Copper is required to make under Agreement, are subject to a statutory hold period of four months and one day, which expires on April 12, 2014.Pursuant to the Agreement, an option and joint venture between the Company and FMEL was terminated, and the Company acquired FMEL's 50% interest thereunder in 49 unpatented mineral claims (the "Subject Claims"). The Subject Claims now form part of the Company's 100%-owned Superior Property, a package of 101 unpatented mining claims covering 120 square kilometres.
About Superior Copper Corporation
Superior Copper Corp. is a Canadian-based exploration company focused on base and precious metal exploration. The Company's primary objective is to target highly prospective and underexplored mineral properties, particularly copper, in order to meet the continual global demand. Its primary land position is its 100%-owned Superior Project, which covers 17,874 hectares or 179 square km, and is located approximately 85 km north of Sault Ste. Marie, Ontario.
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, use of proceeds from the Offering, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. Please see our public filings at www.sedar.com for further information.
Shares Outstanding: 164,747,465
Contact
Superior Copper Corp.
John Tait, President and Chief Executive Officer
416-628-5905
jtait@superiorcopper.ca
www.superiorcopper.ca