Superior Plus Corp. Increases Size of Common Shares Offering

TORONTO, ONTARIO--(Marketwired - Oct. 6, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Superior Plus Corp. ("Superior") (TSX:SPB) announced today that as a result of strong investor demand for its previously announced offering of common shares, the size of the offering has been increased to 12,077,300 common shares issued at price of $10.35 per share (the "Offer Price") for gross proceeds of $125 million (the "Offering"). The over-allotment option granted to the underwriters has also been increased to 1,811,595 Common Shares at the Offer Price. Gross proceeds will be $144 million if the Over-Allotment Option is exercised in full.

Proceeds from the Offering will be used to reduce indebtedness and for general corporate purposes.

On October 6, 2015, Superior announced that it had entered into an agreement pursuant to which Superior will acquire Canexus Corporation ("Canexus") in an all share transaction (the "Acquisition"). Canexus is a producer of sodium chlorate and chloralkali products mainly serving the pulp and paper, and water treatment industries. It currently operates four plants in Canada and two at one site in Brazil. The consideration to be received by shareholders of Canexus will be 0.153 of a Common Share. The Acquisition is subject to customary conditions for a transaction of this nature, which include court and regulatory approvals and the approval of Canexus' shareholders.

The Acquisition enhances Superior's specialty chemicals business and cost position, and provides growth opportunities for the company. The combination aligns with Superior's core strategy of investing in businesses that generate strong free cash flow and attractive future growth opportunities.

The Common Shares will be offered in all provinces and territories of Canada by way of a short form prospectus. The Offering is subject to the receipt of all necessary regulatory and stock exchange approvals. Closing of the Offering is expected to occur on or about October 28, 2015.

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. All sales will be made through registered securities dealers in jurisdictions where the Offering has been qualified for distribution. The common shares mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, nor any State securities laws, and may not be offered or sold in the United States of America absent such registration or the availability of an exemption from such registration.