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Superior Plus Corp. — Board/Management Information 2023
Feb 27, 2023
42632_rns_2023-02-27_7b162925-091d-464d-8212-874969558351.pdf
Board/Management Information
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FORM 51-102F3
Material Change Report
Item 1 Name and Address of Company
Superior Plus Corp. (“ Superior ” or the “ Corporation ”) 401, 200 Wellington Street West Toronto, Ontario Canada M5V 3C7
Item 2 Date of Material Change
February 16, 2023
Item 3 News Release
A news release announcing the material change was issued by the Corporation on February 16, 2023 through the facilities of Business Wire and filed on the System for Electronic Document Analysis and Retrieval (SEDAR).
Item 4 Summary of Material Change
On February 16, 2023, Superior announced the appointment of Mr. Allan MacDonald as President and Chief Executive Officer and as a director of Superior commencing April 3, 2023 (the “Transition Date”) and that Mr. Luc Desjardins will be stepping down as President and Chief Executive Officer of Superior effective on the Transition Date.
Item 5.1 Full Description of Material Change
On August 9, 2022, Superior announced the planned retirement of Mr. Desjardins as President and Chief Executive Officer and a director of Superior by July 31, 2023 and that a succession committee of the board of directors had been formed to select a new President and Chief Executive Officer and oversee an orderly transition plan.
Following an extensive recruitment process overseen by the succession committee, on February 16, 2023, the board of directors approved Mr. MacDonald’s appointment as the President and Chief Executive Officer and as a director of Superior commencing on the Transition Date. In connection with Mr. MacDonald’s appointment and consistent with the previously announced transition plan, Mr. Desjardins will be stepping down from his role as President and Chief Executive Officer of Superior on the Transition Date and will remain available in an advisory role until July 31, 2023 to ensure a seamless transition.
Item 5.2 Disclosure for Restructuring Transactions
Not applicable.
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Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Item 7 Omitted Information
Not applicable.
Item 8 Executive Officer
For further information, please contact Darren Hribar, Chief Legal Officer and General Counsel of Superior, by telephone at 416-340-6001.
Item 9 Date of Report
February 27, 2023.