Welcome!

News Feed Item

Superior Copper Announces Changes to Management and Board of Directors and Full Subscription of Private Placement

TORONTO, ONTARIO -- (Marketwired) -- 01/20/14 -- Superior Copper Corporation ("Superior Copper" or "the Company") (TSX VENTURE: SPC) announces proposed changes to the directors and senior officers of Superior Copper. In order to undertake a robust exploration and drilling program at its Coppercorp Project (Ontario), the Company has recruited a team with extensive experience in the exploration sector and in capital markets, with particular expertise in raising capital for junior mining exploration companies. The proposed incoming management includes Thomas Pladsen, Brent Peters, Christopher Irwin, and John D. Harvey, who have agreed to join the Corporation's board of directors; John Tait, who has agreed to join as President and CEO; and Michael Leskovec, who has agreed to join as CFO and Secretary (together, the "Proposed Managers").

Mr. Pladsen has extensive experience in corporate finance, financial reporting, and management of public and private companies both inside and outside the resource sector. These positions included, CFO of Katanga Mining Limited from 2004 to 2006, CFO of Andina Minerals Inc. from 2005 to 2009, and CFO of Atacama Pacific Gold Corporation from 2009 to the present, as well as consulting work for several TSX and TSX-V listed junior mining companies. He has been a director of Northfield Capital Corporation ("Northfield"), a resource investment company, since 1994, and is also currently a director of Carrie Arran Resources Inc., EPM Mining Ventures Inc., KWG Resources Inc., and White Pine Resources Inc. Mr. Pladsen holds a BBA from Wilfrid Laurier University, and was admitted to the Institute of Chartered Accountants of Ontario in 1985.

Mr. Peters is a finance executive with over 15 years of experience in the mineral exploration business. Since 1996, Mr. Peters has been the Vice President, Finance of Northfield. Also he is currently a director of Carrie Arran Resources Inc. From 2003 to 2008, Mr. Peters was also the CFO of Gold Eagle Mines Ltd. (prior Southern Star Resources Ltd.) which was purchased by Goldcorp Inc. for $1.5 billion in 2008. In the past he has also served as an officer and/or director of Geoglobal Resources Inc., INV Metals Inc., and Aranka Gold Inc. Mr. Peters has a BBA from Brock University in Ontario, Canada.

Mr. Irwin practices securities and corporate/commercial law and has been the managing partner of Irwin Lowy LLP since January 2010, prior thereto he was the President of Irwin Professional Corporation from August 2006. Mr. Irwin advises a number of public companies, board of directors and independent committees on a variety of issues. Mr. Irwin is a director and/or officer of a number of public companies, including Laramide Resources Ltd., Roscan Minerals Corp., and Canada Lithium Corp. Mr. Irwin recently served as a director of Trelawney Mining and Exploration Inc.

Mr. Harvey holds a Bachelor of Science from University of New Brunswick, and received his P.Eng designation in 1964. Mr. Harvey has been active in the mining industry since 1960, and runs his own geological consulting firm. He is currently a director of Canadian Orebodies Inc., and a director and officer of Bold Ventures Inc. He has served as director of Eagle Hill Exploration Corp., worked as VP Exploration for United Carina Resources Corp., Prospectors Alliance Corp., Western Copper Holdings Limited and Prime Equities Inc. Mr. Harvey was Sr. VP of Exploration for Noranda Inc. from 1982 to 1994 and was more recently COO of Noront Resources Ltd.

Mr. Tait brings significant experience in executive and director positions with public mineral exploration companies to Superior Copper. Mr. Tait is also the President and CEO of White Pine Resources Inc.. He has served as COO of VG Gold Corp., as a director of Nighthawk Gold Corp., and as director and President of Southern Star Resources Inc., which merged with Exall Resources to form Gold Eagle Mines Ltd. Gold Eagle Mines Ltd. was purchased by Goldcorp Inc. for $1.5 billion in 2008. Prior to joining Southern Star Resources Inc., Mr. Tait acted as Secretary of Orcana Resources Limited from 1992 to 1997. Mr. Tait has over 20 years of experience in the mining exploration business.

Mr. Leskovec is a Chartered Professional Accountant with over 13 years of financial experience within public practice and the mining industry. Mr. Leskovec holds an Honours BAcc from Brock University in Ontario, Canada. He is also the CFO of Nighthawk Gold Corp., White Pine Resources Inc., and Carrie Arran Resources Inc., and is the Financial Control Officer of Northfield, all of which are listed on the TSX-V. Mr. Leskovec previously served as an Officer and Controller of Gold Eagle Mines Ltd. from May 2007 to September 2008, and served as an Officer and Controller of Andina Minerals Inc. from October 2008 to May 2010. Previous to this, Mr. Leskovec was an Audit and Assurance Manager at Smith Nixon LLP, where he managed audit engagements of publicly listed corporations traded on the Toronto Stock Exchange and the TSX-V.

In connection with the proposed management changes, Judy Baker will resign as CEO and director, and Bruce Staines, Roger Moss, Marcus Arnold, and Paul Millar will resign as directors. Brian Howlett will resign as President and CFO, and will continue as a director. These proposed changes constitute a "Change of Management" as defined in TSX-V policies, and are subject to approval by the TSX-V and by the Company's shareholders. The Company will seek shareholder approval by way of a written consent. Approval will be obtained if holders of a majority of the common shares of the Company, exclusive of the shares held by Northfield, which currently holds 3,703,000 shares and which is related to certain Proposed Managers as noted below.

Superior Copper also announces that the private placement of units ("Units") for gross proceeds of $1,00,000 (the "Offering") previously announced on December 17, 2013, is fully subscribed. Each Unit consists of one common share ("Share") and one Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Share for $0.06 for a period of 24 months following closing of the Offering. Closing is expected after the shareholder approvals described in this press release are obtained.

Pursuant to the Offering, Northfield will acquire a total of 7,000,000 Units. Mr. Robert Cudney, a controlling shareholder of Northfield will acquire 1,000,000 Units. Mr. Cudney is a director and a controlling shareholder of Northfield, and consequently, the securities owned Northfield and Mr. Cudney are under common direction and control. When added to their existing holdings, Northfield and Mr. Cudney will together own 11.5% of the issued and outstanding Shares on an undiluted basis and up to 18.4% on a partially diluted basis. Certain Proposed Managers are also directors or officers of Northfield, and will also be subscribing to the Offering. Messrs. Peters, Pladsen, and Leskovec are all directors or senior officers of Northfield, and will acquire an aggregate total of 1,700,000 Units, representing 1.7% (undiluted) and 3.29% (partially-diluted) of the outstanding shares of Superior Copper after closing. The Change of Management and the closing of the Offering would together represent a "Change of Control" as defined in TSX-V policies, and are subject to approval by the TSX-V and by the Company's shareholders.

Neither Superior Copper nor any of the existing management have entered into any agreement or understanding, either formal or informal, to grant Northfield a right to appoint or nominate directors or senior officers of Superior Copper. Neither Northfield nor any person related to Northfield has been given any special rights pursuant to or in connection with the Offering, and each has subscribed to the Offering on the same terms and conditions as all of the other subscribers thereto.

Superior Copper Corporation

Superior Copper Corporation is a Canadian-based exploration company focused on base and precious metal exploration. Superior Copper's primary objective is to target highly prospective and underexplored mineral properties, particularly copper, in order to meet the increasing global demand. Superior Copper has two focal exploration projects; the Coppercorp Project in Ontario that includes the past producing Coppercorp Mine, and the Riviere Dore Project in Quebec.

CAUTIONARY STATEMENT: Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, statements regarding the future plans and objectives of Superior Copper, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: receipt of shareholder approval for the Change of Management and Change of Control, changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws. Please see our public filings at www.sedar.com for further information.

Shares Outstanding: 80,406,284

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his session at @DevOpsSummit at 20th Cloud Expo, Kelly Looney, director of DevOps consulting for Skytap, showed how an incremental approach to introducing containers into complex, distributed applications results in modernization with less risk and more reward. He also shared the story of how Skytap used Docker to get out of the business of managing infrastructure, and into the business of delivering innovation and business value. Attendees learned how up-front planning allows for a clean sep...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...