TORONTO, June 20, 2019 (GLOBE NEWSWIRE) -- SOPerior Fertilizer Corp. (the “Company”) (SOP.TO) announces it has closed a non-brokered private placement (the “Private Placement”) in which it has issued 3,165,000 units at $0.065 per unit for gross proceeds of $205,725. Each unit is comprised of one common share and one-half common share purchase warrant exercisable at $0.12 for three years.
The proceeds from the private placement will be used to bolster the Company’s treasury for the legal proceedings currently underway.
Finders fees of $12,435.50 cash were paid in connection with the financing. In accordance with applicable securities legislation, all securities issued in the Private Placement are subject to a statutory hold period of four months and one day.
On Behalf of the Board of Directors
SOPERIOR FERTILIZER CORP.
CEO and Director
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).