SOPerior Fertilizer Provides Corporate Update
TORONTO, July 06, 2021 - SOPerior Fertilizer Corp. (the "Company") (TSXV:SOP.H). Further to its press releases on August 24, 2020 and October 2, 2020, the Company announces that the prolonged negotiations with the original Counter-Party to the proposed Joint Venture agreement and larger resource transaction have ended but that the Company is in negotiations with 3 other parties interested in entering into the same JV and the larger regional transaction. The Company hopes to announce an exclusivity agreement with one of the parties in the very near future. All parties are committed to completing a transaction in a very timely manner and to commence operations particularly given the recent increase in commodity prices. The proposed JV transaction is part of a larger development plan for the region which would combine the development of Blawn Mountain's alunite interests with other resource plays in the vicinity. Blawn Mountain's offtakes include alumina, potassium sulphate fertilizer and sulphuric acid. Sulphuric acid makes up a large portion of the processing cost for copper and other minerals and utilizing the produced sulphuric acid in-house greatly improves the profit margins on copper production.
Additionally, 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 high-profile positions in a variety of sectors including mining, energy, materials and construction infrastructure in both the public and private sectors.
Mr. Abrams brings significant experience in building companies and projects from the ground level including energy, precious metals, industrial metals and public infrastructure. He has experience with assembling teams of key personnel, raising capital, implementing key growth strategies, adherence to corporate budget constraints and management of large projects.
Currently Mr. Abrams serves as CEO of Mogul Mountain Mining Company, a private precious metals exploration company which holds several prospects in Nevada. He recently retired from Atkinson Construction where he managed 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 past Director at American Lithium. He holds a mining engineering degree from Montana School of Mines.
On Behalf of the Board of Directors
"Andrew Squires"
CEO and Director
Contact Information
E-mail inquiries: info@SOPeriorfertilizer.com
www.SOPeriorfertilizer.com
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and 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 that 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 under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).