The purpose of the Scheme is, among other things, to effect (i) the acquisition of all issued and outstanding ordinary shares of the Company (the “Company shares“) by IAMGOLD Corporation (“IAMGOLD“) (NYSE: IAG) (TSX: IMG) in exchange for a combination of 0.0991 of an IAMGOLD common share and $0.19 in cash for each Company share, and (ii) the distribution of all shares of ONGold Resources Ltd. common stock currently held directly or indirectly by the Company to the Company’s stockholders (the “ONGold stock distribution“), all in accordance with the terms of the agreement dated October 19, 2025 between the Company and IAMGOLD (the “Agreement“).
Subject to certain customary closing conditions, the closing of the Agreement is expected to occur on December 19, 2025. Under the Agreement, the record date for purposes of the ONGold stock distribution is expected to be December 18, 2025.
About Northern Superior Resources Inc.
Northern Superior is a gold exploration company focused on the Chibougamau camp in Québec, Canada. The company has consolidated the largest land parcel in the region, with a total land holding currently exceeding 70,000 hectares. The main properties are Philibert, Hazeur (adjacent to Philibert), Lac Surprise (adjacent to Nelligan), Chevrier, Croteau, Monster Lake East and Monster Lake West. Northern Superior also owns 48.5% of ONGold, which is advancing promising exploration assets in Northern Ontario and Manitoba, including the district-level TPK Project and Monument Bay; Agnico Eagle Mines Limited owns 13% of ONGold.
Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, trading on the TSX Venture Exchange under the symbol SUP and the OTCQB Venture Market under the symbol NSUPF. For more information, please consult the Company’s website at www.nsuperior.com or the Company’s profile on SEDAR+ at www.sedarplus.ca.
About IAMGOLD
IAMGOLD is an intermediate gold producer and developer based in Canada operating mines in North America and West Africa, including Côté Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Côté Gold Mine was given its full name in June 2025 and has the potential to become one of the largest gold mines in Canada. IAMGOLD operates Côté in partnership with Sumitomo Metal Mining Co. Ltd. In addition, IAMGOLD has an established portfolio of early and advanced exploration projects in high-potential mining districts. IAMGOLD employs approximately 3,700 people and is committed to sustaining the culture of responsible mining through high standards of environmental, social and governance practices. IAMGOLD is listed on the New York Stock Exchange (NYSE: IAG) and the Toronto Stock Exchange (TSX: IMG).
Northern Superior Resources Inc. on behalf of the Board of Directors
Simon Marcotte, CFA, President and CEO
Contact details
Katrina Damouni
Director – Business Development
Tel: +44 7795 128583 (Mobile/WhatsApp)
info@nsuperior.com
Forward-looking information
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information generally can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” “plan” or similar terminology. The forward-looking information contained herein is intended to assist readers in understanding management’s current expectations and plans regarding the future. Readers are cautioned that such information may not be suitable for other purposes.
Forward-looking statements relate to future events or future performance and reflect the company’s expectations or beliefs regarding future events. Forward-looking statements include, but are not limited to, statements regarding the Agreement, the ability to complete the Agreement and the timing thereof, including the parties’ ability to satisfy closing conditions, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among other things, the risks associated with failure to obtain the required stock exchange and other consents and approvals to implement the Arrangement and the possibility that the Agreement may be terminated in certain circumstances.
Forward-looking information is based on management’s reasonable assumptions, estimates, expectations, analyzes and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors include: business integration risks; fluctuations in general macroeconomic conditions; fluctuations in the securities markets; fluctuations in spot and futures prices of gold or certain other commodities; changes in national and local governments, legislation, taxes, controls, regulations and political or economic developments; risks and hazards associated with mineral exploration, development and mining activities (including environmental risks, industrial accidents, unusual or unexpected pressures on formations, cave-ins and floods); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims of local communities and indigenous peoples; availability of increasing costs associated with mining inputs and labor; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government agencies); and ownership rights to property.
The Company undertakes no obligation to update any forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on currently available information. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements or information.
The TSX Venture Exchange has in no way passed on the merits of the arrangement and has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Northern Superior Resources Inc.
View the original press release on ACCESS Newswire
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