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Toronto, Ontario: May 26, 2016 — Superior Copper Corporation (TSX‐V: SPC) ("Superior") is pleased to announce that, at the special meeting of shareholders held earlier today, the shareholders of Superior (the "Superior Shareholders") overwhelmingly voted in favour of the special resolution to approve the business combination of Superior with Nighthawk Gold Corp. (TSX-V: NHK) ("Nighthawk"), pursuant to which Nighthawk will acquire all of the common shares of Superior by way of a three-cornered amalgamation between Superior and a wholly- owned subsidiary of Nighthawk (the "Amalgamation"). The Amalgamation was approved by 99.71% of votes cast by the Superior Shareholders. Additional information concerning the Amalgamation can be found in the management information circular of Superior dated April 25, 2016, and available under Superior’s issuer profile on SEDAR at www.sedar.com. Completion of the Amalgamation is subject to, among other things, receiving final stock exchange approvals, and the satisfaction of other customary conditions for a transaction of this nature. Closing of the Amalgamation is expected to occur on or about May 27, 2016.
About Nighthawk and Superior
Nighthawk is a Canadian-based exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories. Including the mineral claims and leases of the Colomac Gold Project, Nighthawk’s Indin Lake Gold Property comprises a total land package of 222,203 acres in the Indin Lake Greenstone Belt, located approximately 200 kilometres north of Yellowknife, Northwest Territories. Superior is a Canadian-based exploration company focused on base and precious metal exploration, which holds a 100% interest in the property known as the Superior Project, which covers 39,015 acres approximately 85 kilometres north of Sault Ste. Marie, Ontario.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr. John Tait, President and Chief Executive Officer Superior Copper Corp.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the timing and receipt of stock exchange and regulatory approvals for the Amalgamation; the timing and ability of Nighthawk and Superior to satisfy the conditions precedent to completing the Amalgamation; the closing of the Amalgamation; the length of the current market cycle and requirements for an issuer to survive in the current market cycle; future growth potential of Nighthawk and Superior and their respective business; and future development plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of Superior, at the time such statements were made. Actual future results may differ materially as forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Nighthawk and Superior, as the case may be, to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: risks that the Amalgamation may not be completed as currently proposed or at all; satisfaction or waiver of all applicable conditions to closing of the Amalgamation (including receipt of all necessary stock exchange, regulatory approvals or consents, and the absence of material changes with respect to the parties and their respective businesses, all as more particularly set forth in the Master Agreement governing the Amalgamation); the synergies and other anticipated benefits expected from the Amalgamation not being realized; delays in the timing of the proposed Amalgamation; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets and the market price of the common shares of Nighthawk and Superior; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); availability of financing; and title to properties. In addition, the failure of a party to comply with the terms of the Master Agreement governing the Amalgamation may result in that party being required to pay a non‐completion or other fee to the other party, the result of which could have a material adverse effect on the paying party's financial position and results of operations and its ability to fund growth prospects and current operations. Although the forward-looking statements contained in this news release are based upon what management of Superior believes, or believed at the time, to be reasonable assumptions, Superior cannot assure the Superior Shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Superior does not assume an obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.