Canadian Superior Increases Financing to $16MM

Canadian Superior announced that due to strong market demand, Canadian Superior has agreed to increase the size of the option under its previously announced (pre-market News Release, today, November 21, 2008) financing to increase the size of the total offering from $10,000,000 to $16,000,000.

The total number of flow-through shares to be issued will be up to 10,322,581 Canadian Superior shares at a price of $1.55 per share. Acumen Capital Finance Partners Limited ("Acumen") is acting as underwriter for the financing. All other terms of the financing announced earlier today, November 21, 2008, remain unchanged. The private placement is expected to close on or about December 5, 2008 and is subject to receipt of all necessary regulatory approvals and other customary conditions.