Northern Superior Acquired by IAMGOLD to Form Nelligan Mining Complex

Northern Superior Resources Inc., a Canadian gold exploration firm, has announced its acquisition by IAMGOLD Corporation. The transaction, valued at approximately C$375 million, involves exchanging Northern Superior shares for 0.0991 IAMGOLD shares and C$0.19 in cash per share. This acquisition seeks to create the Nelligan Mining Complex in Chibougamau, Québec. The deal offers a 45% premium on Northern Superior’s closing stock price, excluding ONGold Resources share distribution, which remains with shareholders.

The acquisition aligns IAMGOLD's focus on Canadian mid-tier gold production. Northern Superior shareholders gain access to IAMGOLD's portfolio, including Côté Gold and Westwood mines, and a stronger financial foothold. The merger requires approval from Northern Superior’s shareholders, with a meeting set for December 2025. Stakeholder votes, court approval, and customary conditions are pending for a planned close by early 2026.