VANCOUVER, BC, April 14,
2023 /CNW/ - Superior Mining International
Corp. ("Superior Mining" or the "Company") (TSXV:
SUI) (OTC: SUIFF) announces that, further to its news release
of January 26, 2023, it has obtained
final approval from the TSX Venture Exchange (the "TSXV") to
proceed with the option agreement (the "Option Agreement")
with Quebec Pegmatite Corp. (the "Vendor"), a subsidiary of
Coloured Ties Capital Inc. ("CTC"), whereby Superior Mining
has the option to earn a 100% interest in the Vieux Comptoir
Lithium Property in Quebec (the
"Property") subject to meeting certain conditions. The
7,500,000 common shares due on TSXV approval have been issued to
the Vendor. In addition, the Company paid aggregate finder's fees
of 300,000 common shares to to two parties in respect of the Option
Agreement. The common shares issued to the Vendor and the finder's
shares are all subject to a hold period expiring four months from
the date of closing.
The Company has provided the TSXV with a National Instrument
43-101 technical report in respect of the Property as requested.
For additional information on the Property and the Option
Agreement, please refer to the Company's December 7, 2022 news release, which is available
on SEDAR.
ON BEHALF OF THE BOARD
"Brent
Butler"
Chief Executive Officer and Director
Neither the 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
the content of this news release.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities
being offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws, and may not be
offered or sold in the United
States, or to, or for the account or benefit of, a "U.S.
person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is
for information purposes only and does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.
Cautionary Note Regarding
Forward-Looking Information
This press release contains forward-looking information based
on current expectations, including the use of funds raised under
the Offering. These statements should not be read as guarantees of
future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. Although such
statements are based on management's reasonable assumptions,
Superior assumes no responsibility to update or revise
forward-looking information to reflect new events or circumstances
unless required by law.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to several factors and risks including various risk factors
discussed in the Company's disclosure documents which can be found
under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.
SOURCE Superior Mining International Corporation
