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Northern Superior Resources (TSXV: SUP) this morning released details on just how many shares of ONGold Resources (TSXV: ONAU) shareholders will be receiving in connection with the closing of Northern Superior’s acquisition by IAMGOLD (TSX: IMG).
Shareholders of Northern Superior are set to receive 0.19574366 shares on ONGold for each share of Northern Superior they currently hold. Distributions are expected to be made to shareholders of record as of December 18, 2025, with that distribution expected to occur December 19, 2025.
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The timing of the distribution is inline with the expected closing of Northern Superior’s acquisition by IAMGOLD. Under the original terms of that transaction, Northern Superior was valued at $375 million. Consideration will be in the form of cash and shares, with shareholders to receive 0.0991 of an IAMGOLD share for each share of Northern Superior held, along with $0.19 per share in cash and the distribution of ONGold shares.
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The acquisition of Northern Superior occurs alongside IAMGOLD’s acquisition of Mines D’Or Orbec (TSXV: BLUE), with those transactions part of an effort to establish a massive 38,403 hectare footprint in the Chibougamau region of Quebec. Post acquisition, properties held by the two companies will be combined with IAMGOLD’s Nelligan Mining Complex, to establish one of the top undeveloped mining projects in Canada. Nelligan post acquisition will boast measured and indicated mineral resources of 3.75 million ounces of gold and inferred resources of 8.65 million ounces of gold.
Northern Superior last traded at $2.43 on the TSX Venture.
FULL DISCLOSURE: Northern Superior Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Northern Superior Resources on The Deep Dive, with The Deep Dive having full editorial control. This is not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
