Northern Superior Resources Increases Minimum Offering Size of Previously Announced Non-Brokered Private Placement to C$3.0 Million: New Gold Inc. to Maintain Its 9.99% Ownership Stake

Rhea-AI Summary

Northern Superior Resources Inc. (NSUPF) has announced an increase in the minimum offering of its private placement financing from C$1.5 million to C$3 million due to high demand. The original terms of the offering remain unchanged. Northern Superior is focused on gold exploration in the Superior Province of the Canadian Shield, with properties in Québec and Ontario, including Lac Surprise, Croteau Est, and Wapistan. The company aims to utilize the raised funds to further its exploration initiatives.

Positive

• Increased minimum offering amount from C$1.5 million to C$3 million due to high demand for the private placement.
• Focus on gold exploration with strategic properties in Québec and Ontario.

Negative

• None.

Not for distribution to United States newswire services or dissemination in the Unites States

SUDBURY, ON / ACCESSWIRE / November 9, 2020 / Northern Superior Resources Inc. (the "Company" or "Northern Superior") (TSXV:SUP)(OTCQB:NSUPF) is pleased to announce that is intends to increase the minimum offering amount of the private placement financing which was described in the Company's press release disseminated earlier today, from C$1.5mm to C$3.0mm due to excessive demand. The remaining terms of the offering remain as described in the earlier press release (see Northern Superior Resources press release, November 9, 2020).

About Northern Superior Resources Inc.

Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Lac Surprise, Croteau Est and Wapistan properties in Québec and its TPK property in Ontario. Northern Superior also has a number of other 100% owned properties in Ontario and Québec.

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP.

For further information contact:

Thomas F. Morris P.Geo., PhD., FGAC
President and CEO
Tel: (705) 525 ‐0992
Fax: (705) 525 ‐7701
e‐mail: info@nsuperior.com
www.nsuperior.com

Forward Looking Statement:

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Neither 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 source version on accesswire.com:
https://www.accesswire.com/615634/Northern-Superior-Resources-Increases-Minimum-Offering-Size-of-Previously-Announced-Non-Brokered-Private-Placement-to-C30-Million-New-Gold-Inc-to-Maintain-Its-999-Ownership-Stake

FAQ

What is the current private placement offering amount for NSUPF?

The minimum offering amount has increased from C$1.5 million to C$3 million.

What properties is Northern Superior Resources Inc. exploring?

Northern Superior is exploring properties such as Lac Surprise, Croteau Est, and Wapistan in Québec, as well as TPK in Ontario.

When was the announcement regarding the private placement issued?

The announcement was made on November 9, 2020.

What is the symbol for Northern Superior Resources Inc. on the OTCQB?

The stock symbol for Northern Superior Resources Inc. on the OTCQB is NSUPF.