Source: Superior Plus Corporation

Superior Plus Announces Redemption of 6.00% Convertible Unsecured Debentures due June 30, 2018

TORONTO, ONTARIO--(Marketwired - Aug. 11, 2016) - Superior Plus Corp. ("Superior") (TSX:SPB) is announcing that it will redeem the entire $149,999,500 outstanding principal amount of its 6.00% convertible unsecured subordinated debentures due June 30, 2018 (the "6.00% Debentures") in accordance with the indenture governing the 6.00% Debentures. The 6.00% Debentures will be redeemed on September 15, 2016 (the "Redemption Date") at the redemption price (the "Redemption Price") which is equal to the outstanding principal amount of the 6.00% Debentures to be redeemed, together with all accrued and unpaid interest thereon up to the Redemption Date, being $1,012.6575 per $1,000 principal amount of the 6.00% Debentures. The 6.00% Debentures that are redeemed will cease to bear interest from and after the Redemption Date. Superior intends to use funds from its existing credit facility to fund the redemption of the 6.00% Debentures.

Pursuant to the terms of the indenture governing the 6.00% Debentures, holders of the 6.00% Debentures have the right until the last business day prior to the Redemption Date to convert their 6.00% Debentures into common shares of Superior ("Common Shares") at a conversion price of $15.10, being a rate of 66.2252 Common Shares per $1,000 principal amount of 6.00% Debentures.

"We are pleased to announce the redemption of the 6.00% Debentures. The divestiture of the Construction Products Distribution business on August 9, 2016 has reduced Superior's total leverage and has provided Superior with the necessary financial flexibility to be able to proactively manage its balance sheet maturities and optimize interest costs while maintaining sufficient flexibility to operate the businesses and pursue accretive acquisitions," stated Beth Summers, Vice-President and Chief Financial Officer.

About the Corporation

Superior consists of two primary operating businesses: Energy Distribution includes the distribution of propane and distillates, and supply portfolio management; and Specialty Chemicals includes the manufacture and sale of specialty chemicals.

For further information about Superior, please visit our website at:

Forward Looking Information

Certain information included herein is forward-looking, within the meaning of applicable Canadian securities laws. Such information is typically identified by words such as "anticipate", "believe", "could", "estimate", "expect", "plan", "intend", "forecast", "future", "guidance", "may", "predict", "project", "should", "strategy", "target", "will" or similar expressions suggesting future outcomes. Forward-looking information in this news release includes the redemption and the anticipated source of funds for the redemption of the 6.00% Debentures. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such information should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance. By its very nature, forward-looking information involves inherent assumptions, risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking information will not be achieved. These risks include, but are not limited to, those identified in Superior's 2015 Annual Information Form under the heading "Risk Factors". Should one or more of these risks and uncertainties materialize, or should assumptions described above prove incorrect, Superior's actual performance and results in future periods may differ materially from any projections of future performance or results expressed or implied by such forward-looking information. We caution readers not to place undue reliance on this information as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking information.

Forward-looking information contained in this news release is provided for the purpose of providing information about management's goals, plans and range of expectations for the future and may not be appropriate for other purposes. Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

Contact Information:

Beth Summers
Vice President and Chief Financial Officer
(416) 340-6015
(416) 340-6030 (FAX)

Rob Dorran
Vice President, Investor Relations and Treasurer
(416) 340-6003
(416) 340-6030 (FAX)
Toll Free: 1-866-490-PLUS (7587)