Ms. Beth Summers reports

SUPERIOR PLUS ANNOUNCES THE TERMINATION OF THE ARRANGEMENT AGREEMENT WITH CANEXUS

The board of directors of Superior Plus Corp. has decided to terminate the arrangement agreement dated Oct. 5, 2015, pursuant to which Superior was to acquire Canexus Corp. Superior has provided Canexus with a termination notice under the arrangement agreement.

The arrangement agreement provides that the transaction may be terminated by Superior under certain circumstances, which have occurred. Superior had been in discussions with Canexus, but the parties have failed to reach agreement on terms that would allow the transaction to proceed. Among other things, Superior had sought to get Canexus to remedy the breach of certain provisions of the agreement and had requested that Canexus extend the outside date of June 29, 2016, to provide sufficient time for the parties to respond to legal proceedings commenced by the Federal Trade Commission.