SOPerior Fertilizer Corp V.SOP.H

JV update

[pleazu69]

SOPerior Provides Update Regarding Proposed Joint Venture

TORONTO, Oct. 02, 2020 (GLOBE NEWSWIRE) -- Further to its press release of August 24, 2020, SOPerior Fertilizer Corp . (the “ Company ”) (TSX:SOP) provides the following update in respect to its announcement that the Company had entered into a letter of intent (“ LOI ”) with an arm’s length party (the “ Counter-Party ”) to form a joint venture (“ Joint Venture ”).

The Joint Venture relates to (a) commercially developing and exploiting the Company’s massive Alunite interests located on SOP’s Blawn Mountain Mining Lease (specifically Mining Lease 51983-03A) (the “ Lease ”) located in Utah, (b) completing the financing and construction of an alunite ore processing plant (the “ Plant ”) which is to be situated on an existing processing plant facility located in the vicinity of SOP’s Blawn Mountain leased ground, and (c) the ultimate processing of ore into its primary offtakes of alumina, potassium sulphate fertilizer and sulphuric acid (herein, the “ Project ”).

The LOI provided that the parties were to finalize the definitive JV agreement (and ancillary agreements) prior to September 30, 2020.

While the form and all key terms of the JV agreement itself has been settled, the original deadline has proved over ambitious given our current business environment.

The Counter-Party has expressed a strong commitment to complete the JV which is an integral part of a larger transaction that the Counter-Party is advancing in the region and has stated it sees no impediment to closing the JV in short order other than parties requiring additional time to complete contract due diligence on other parts of the larger transaction.

[bigkagan]

it looks like the "counter-party" is some big player who's trying to put together a big project there

[pleazu69]

Encouraging update for sure I have another 200k on the bid side hoping TD hits it.

[BadMedicine]

Sam and his cronies were masterfully dismantled and I wouldn't have believed it if not for this update which brought clarity to it. Fahy wrote some time ago "**Alumina, which trades for about $472/t, is classified as a waste byproduct of production. However, efforts are being made to develop a pilot plant 12 miles away from Blawn Mountain in Milford at the site of Tamra’s shuttered

[BadMedicine]

The $4.5 million coming by way of the JV partner would explain the stock being held at $0.04 to $0.045. The JV partner would get 100,000,000 shares at $0.045 for that cash and a 50% interest in the asset off the hop.  From there they would fund through each milestone event to trigger greater interest in the asset. Securing the TAMRA asset was always going to be complicated. Sounds close

[BadMedicine]

The TSX would not have suspended the delisting review unless the company could provide proof the the JV could bring SOP back into compliance. The JV partner likely had to bare its war chest to satisfy the TSX regulators that they had the means to do so. It's a case of the JV partner getting the TAMRA copper deal completed and then the only thing left is to sign the JV definitive agreement. I

[bigkagan]

excuse my ignorance but who's this Sam and his cronies whom you dilslike so much and what's the deal with LIND?

[BadMedicine]

Sam is a greasy dirtbag and his cronies just as greasy. The collective has had their spoof,short, lay out scheme going on for far too long and SOP was just one of many many issuers they have done dirty. LIND shackled SOP with the death spiral financing secured by the Blawn Mountain asset. A death spiral initiated by them that has sunk the stock to its lows. I'm betting LIND is onboard with

[bigkagan]

still don't know who this Sam is. It's not the Yosemite Sam by chance? hee

[kdog1ca]

I believe he's talking about Kyler Hardy when he says Sam. Kyler Samuel Anthony Hardy is his full legal name. I don't know any other Sam associated with Soperior.

[BadMedicine]

No, Hardy is not the Sam I am referring to. I won't elaborate any further into identifying Sam to the fullest other than to say the sleaze is not part of SOP management. Records of trading transactions and spoofs will do all the talking at the appropriate time. For now, all the focus is on SOP and the JV party closing the deal ASAP.

[kdog1ca]

Ok. Thanks for clearing up that we're not talking about Hardy. We still all want to know who this Sam is that you dislike so much for doing SOP wrong. Also, when do you think the share price will rise here? Are we days or weeks away? Where do you see the market cap going? You sound like you're in the know here, so we'd appreciate your added insight.

[BadMedicine]

All you have to do is follow the paper. Sam and his cronies have worked over many a deal and it always ends up with people getting laid out as they pull the rug out. Your share price question is relative to the number of shares that will be issued and the terms to the number of milestone achievements which are required to step up the partners ownership interest. The stock will definitely go up

[kdog1ca]

I like you BadMedicine. I think you're a straight up dude. Thanks for the added insight!

[automagic]

Bruce Duncan and crew need to sh*t or get off the pot.

[Pugsrock2]

They will sit on the pot doing nothing as long as there is still cash in the till for their paychecks. Get ready for many extensions cause *short order" could mean anything in Duncan double speak. Then if/when there is no deal they will blame the unknown counter party. (If they even exist)

[bigkagan]

why can't they get a loan and develop the whole thing themselves instead of ceding half of the future revenue to the counterparty if it's such a rich deposit

[automagic]

Good idea actually but these aren't the guys...they can't raise a million in equity and their idea of debt is Lind