Superior Plus announces closing of convertible debenture financing
over-allotment option

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

TSX: SPB

CALGARY, March 25 /CNW/ - Superior Plus Corp. ("Superior" or the "Corporation") is pleased to announce the successful closing of an additional $22,500,000 aggregate principal amount of 5.75% convertible unsecured subordinated debentures (the "Debentures") due to the exercise of the over-allotment option, in its entirety, on the previously issued $150,000,000 million aggregate principal amount of Debentures which closed on March 16, 2010. The Debentures were offered to the public through a syndicate of underwriters co-led by TD Securities Inc. and CIBC, and included National Bank Financial Inc., Scotia Capital Inc., BMO Capital Markets and Cormark Securities Inc. (collectively, the "Underwriters"). As previously announced, Superior intends to use the net proceeds to repay existing revolving term bank debt and for general corporate purposes.

    
    About the Corporation
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Superior is a diversified corporation. Superior holds 100% of Superior Plus LP, a limited partnership formed between Superior General Partner Inc., as general partner and Superior as limited partner. Superior is focused on stability of dividends with value growth. Superior Plus LP consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates and related fixed-price energy services; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.

The Corporation's common shares and convertible debentures trade on the TSX as follows:

    
    Trading
    Symbol      Security                     Issued and Outstanding
    -------------------------------------------------------------------------
    SPB         Common Shares                 104.9 million
    SPB.db.b    5.75% Debentures, Series 1   $174.9 million principal amount
    SPB.db.c    5.85% Debentures, Series 1   $75.0 million principal amount
    SPB.db.d    7.50% Debentures             $69.0 million principal amount
    SPB.db.e    5.75% Debentures             $172.5 million principal amount
    -------------------------------------------------------------------------
    

SOURCE SUPERIOR PLUS CORP.

For further information: For further information: about Superior Plus, please visit our website at: www.superiorplus.com or contact: Wayne Bingham, Executive Vice-President and Chief Financial Officer, Tel: (403) 218-2951, Fax: (403) 218-2973, E-mail: wbingham@superiorplus.com or Jay Bachman, Vice-President, Investor Relations and Planning, Tel: (403) 218-2957, Fax: (403) 218-2973, E-mail: jbachman@superiorplus.com, Toll Free: 1-866-490-PLUS (7587)

Organization Profile

SUPERIOR PLUS CORP.

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