NYSE Amex Lifts Trading Halt in Canadian Superior's Shares

Canadian Superior has been advised by NYSE Amex LLC (the "Exchange" or "NYSE Amex LLC") that it remains below certain of the Exchange's continued listing standards as set forth in section 1003(a)(iv) of the NYSE Amex LLC Company Guide. Canadian Superior has previously announced the Exchange's decision to resume trading in the Company's common shares.

On March 6, 2009, the Company received notice from the NYSE Amex LLC Staff indicating that the Company was not in compliance with the Exchange's continued listing requirements under section 1009 of the Company Guide. The Company was afforded the opportunity to submit a plan of compliance to the Exchange and on April 22, 2009, presented its plan to the Exchange. On May 11, 2009, the Exchange notified the Company by letter that it accepted the Company's plan of compliance and granted an extension until July 31, 2009 to regain compliance with the Exchange's continued listing standards. The Company will be subject to periodic review by the Exchange Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the NYSE Amex LLC.