Canadian Superior Clarifies Status of Challenger Warrants

Canadian Superior announced that, following its recent acquisition of Challenger Energy Corp. ("Challenger") through a plan of arrangement, two classes of warrants issued by Challenger remain outstanding and are now exercisable for common shares of Canadian Superior.

 

The first class of warrants (the "October Warrants") expires on October 2, 2009, and on exercise of October Warrants prior to expiry and payment of the exercise price of $3.50 per warrant, the holder would be entitled to receive 0.51 of a Canadian Superior common share for each warrant exercised. The second class of warrants (the "March Warrants") expires on March 6, 2010, and on exercise of March Warrants prior to expiry and payment of the exercise price of $4.40 per warrant, the holder would be entitled to receive 0.51 of a Canadian Superior common share for each warrant exercised. The October Warrants and the March Warrants remain listed on the TSX Venture Exchange.


 

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