News Releases
Related Articles

News Releases

Superior Mining International Corporation Announces Non-Brokered Private Placement

December 5, 2007

Vancouver, British Columbia: Superior Mining International Corporation, (the “Company”), is pleased to announce a non-brokered financing of up to 10,000,000 units at a price of $0.40 per unit. Each unit will consist of one common share and one-half of a share purchase warrant. Each warrant will entitle the holder to acquire an additional common share for a period of 12 months at a price of $0.60.

The Company may pay a 7% finder's fee in cash of gross proceeds raised, and issue finders warrants exercisable for up to 7% of the number of shares sold, exercisable at a price of $0.60 per share for a period of 12 months from closing.

If after 4 months from the closing of the private placement the Company’s common shares close on the TSX Venture Exchange at or above $1.00 for 10 consecutive trading days, the Company will have the right to accelerate the expiry of the warrants to a date that is 30 days from the date the Company gives notice to the subscribers of such early expiry.

All securities will be subject to a hold period of four months from closing. The financing is subject to regulatory approval.

Proceeds from the financing will be used to fund the exploration of Mangalisa property (formerly known as Kareeboom) in South Africa, to advance the recently acquired New Zealand properties, and for general working capital.

On behalf of the Board of Directors of

Superior Mining International Corporation

“John Proust”

John Proust
President & CEO

For more information please contact:

Superior Mining International Corporation
C/o John Proust, CEO
Telephone: (604) 601-2005 Fax: (604) 488-0319

All of Superior Mining International's news releases made prior to January 2007 can be found on the System for Electronic Document Analysis and Retrieval (SEDAR) at

Home      Corporate      Investor      Properties      News      Contact      Disclaimer Designed and Powered by Blender Media