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Results Of 2008 AGM Of The Company & Closing Of Private Placement


February 8, 2008

Vancouver, British Columbia: Superior Mining International Corporation, (“Superior Mining”) is pleased to announce that, in conjunction with the holding of the Company’s most recent annual and special general meeting of shareholders on January 31, 2008 (the “AGM”), the following matters were ratified by the Company’s shareholders and have now been implemented by the Board of Directors in the following manner:

● Messrs. John Proust, J. Henry Atkinson, Cyrus Driver and Kjeld R. Thygesen were elected to the Board of Directors of the Company;

● the following Executive Officers of the Company were appointed by the Board of Directors immediately following the AGM: John Proust: President and Chief Executive Officer; J. Henry Atkinson: Chairman; Cyrus Driver: Chief Financial Officer; and

Eileen Au: Secretary; and

● the Company’s shareholders approved, on a disinterested basis, the approval of the Company’s new stock option plan and new stock option grants as previously filed with the TSX Venture Exchange.

The Company is also pleased to announce the closing of the final tranche of its previously announced non-brokered private placement of units (the “Financing”). Pursuant to the Financing, the Company raised aggregate gross proceeds of $1,968,000 through the issuance of a 4,920,000 Units, each Unit, priced at $0.60, consisted of one common share of the Company (a “Share”) and one-half of a share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder to acquire an additional Share of the Company for a period of 12 months at an exercise price of $0.60. An aggregate of 4,920,000 Shares and 2,460,000 Warrants were issued in the Financing. The Company paid finders’ fees to arm’s length persons totaling $121,660 in cash and 304,150 common share purchase warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitles the holder to acquire one Share at an exercise price of $0.60 for a period of 12 months.

All securities issued in the Financing are subject to a hold period of four months from the date of their issuance under applicable Canadian securities laws.

Proceeds from the financing will be used to fund the exploration of the 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 http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007879

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