SOPerior Fertilizer Corp. Announced Board and Management Changes
Toronto, Ontario, May 02, 2025 (GLOBE NEWSWIRE) -- SOPerior Fertilizer Corp. (TSXV:SOP.H) (the "Company" or "SOPerior") announces all directors have resigned from the Board, effective April 30, 2025. In addition, all officers have resigned their positions as officers, effective April 30, 2025.
The following directors and officers have resigned from the Company:
- Alan C. Abrams (Director);
- Arran Thorpe (Director);
- Andrew Squires (Chief Executive Officer and Director); and
- Olga Nikitovic (Chief Financial Officer).
Negotiations with the proposed JV counterparty have terminated and the Company has no other viable alternatives to continue operations given its significant liabilities and limited cash. The Company was unsuccessful in its bid to reacquire the SITLA Other Business Arrangement for the Blawn Mountain mineral leases. The Company’s only assets include approximately $3,000 in cash and a reclamation bond of USD$66,923. The cash will be used to prepay for certain final corporate filings and it is believed the entire amount of the bond will be required to perform the necessary reclamation work on the Blawn Mountain project.
The Company is insolvent and it will eventually be suspended and delisted from the TSXV.
On Behalf of the Board of Directors,
Andrew Squires
Former Director & CEO
Contact Information
Phone: (403) 850-0422
E-mail inquiries:
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Forward-looking statements in this press release include statements about the Board and management of the Company. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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.
