Toronto, ON, Canada, Oct. 31, 2024 (GLOBE NEWSWIRE) -- SOPerior Fertilizer Corp. (the “Company” or “SOP”) (NEX:SOP.H). The Company is providing an update with respect to its Other Business Arrangement (“OBA”) renewal of the Blawn Mountain mineral leases which was previously disclosed in its press release of June 14, 2024. Due to various inquiries regarding the leases, SITLA posted a Request for Proposals for the Blawn Mountain Leases with a September 1, 2024 deadline for submissions.
The Company is deeply disappointed to announce that it was unsuccessful in its bid to reacquire the SITLA OBA for the Blawn Mountain mineral leases. Even though the Company’s submission contained substantial financial and commercial development commitments from its proposed JV counterparty, SITLA has chosen instead to award the OBA to a large mining entity for precious metal exploration activity. While SITLA was not willing to entertain splitting the mineral rights, they have advised the Company and its proposed JV counterparty to pursue structuring a mineral rights deal directly with the new OBA holder.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Directors
SOPERIOR FERTILIZER CORP.
“Andrew Squires”
CEO and Director
Contact Information
Phone: (403)-850-0422
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).
