Welcome to our dedicated page for Northern Superior Res news (Ticker: NSUPF), a resource for investors and traders seeking the latest updates and insights on Northern Superior Res stock.
Northern Superior Resources Inc. (NSUPF) is a gold exploration company focused on the Chibougamau Camp in Québec, Canada. The Company holds a significant land package exceeding 62,000 hectares, with key properties including Philibert, Lac Surprise, Chevrier, and Croteau. Philibert, located near IAMGOLD's Nelligan Gold project, boasts a new inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces Au. With promising exploration results and a strategic focus on the Philibert Project, Northern Superior aims to further enhance its mineral reserves and unlock the full potential of its assets.
Northern Superior Resources announced the completion of an $8 million private placement, consisting of 5,050,600 flow-through shares at $0.99 each and 5,454,600 common shares at $0.55 each. Cormark Securities acted as the sole underwriter. The net proceeds will fund working capital and Canadian exploration expenses in Quebec. Insider participation included CEO Simon Marcotte, Executive Chairman Victor Cantore, and director Michael Gentile. Their involvement qualifies as a related party transaction, but exemptions were applied. The shares issued to insiders are subject to a four-month hold period under TSX Venture Exchange policies.
On May 8, 2024, Northern Superior Resources Inc. and ONGold Resources announced the appointment of John Kim Bell as Chairman of the board of directors of ONGold. Mr. Bell is an esteemed Indigenous leader with a diverse career in arts, philanthropy, and corporate sectors. His appointment signifies a progressive and inclusive approach to mineral exploration and development in Ontario. The Company aims to leverage Mr. Bell's expertise to drive positive change and advance sustainability initiatives.
Northern Superior Resources Inc. and ONGold Resources announce the listing of Common Shares on the TSX Venture Exchange under the symbol 'ONAU'. Kyle Stanfield appointed as CEO and director, bringing over 25 years of mining sector experience, focusing on sustainable project development and collaboration with indigenous communities.
Northern Superior Resources Inc. and ONGold Resources announce the completion of a spinout transaction related to mining projects in Ontario. ONGold acquired Northern Superior's projects, including the TPK and October Gold properties. ONGold completed financings for $5.2 million and issued 10,108,843 Common Shares. Northern Superior now holds 35,686,686 Common Shares or 72.35% of ONGold. ONGold will begin trading under the symbol 'ONAU' on May 3, 2024. The Transaction includes a letter agreement between the companies. ONGold will use the proceeds for exploration and development of its mineral properties. The Technical Information section highlights the TPK Project and October Gold Project's exploration findings.
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