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M&A / Property

Northern Superior Announces Closing of the Arrangement

By The Northwire Desk — AI Analysis Dec 19, 2025 · 08:40 SUP · 2.39 Northern Superior Resources Inc.
SUP · Price

Executive Summary

  • Northern Superior Resources Inc. completed its previously announced arrangement, resulting in 100% acquisition by IAMGOLD Corporation.
  • Former Northern Superior shareholders received a combination of IAMGOLD common shares (0.0991 per share) and C$0.19 cash per share, plus a distribution of ONGold Resources Ltd. shares (0.19574366 ONAU Share per Northern Superior share).
  • The Company’s TSX Venture Exchange listing will be delisted, and it will cease to be a reporting issuer in multiple Canadian provinces.

Key Details

  • Arrangement Completion: IAMGOLD acquired all issued and outstanding common shares of Northern Superior under a Division 5 plan of arrangement (BC Business Corporations Act).
  • Shareholder Consideration:
  • 0.0991 IAMGOLD common share per Northern Superior share held immediately prior to the effective time.
  • C$0.19 cash per Northern Superior share.
  • ONGold Distribution: Former shareholders received ONGold Resources Ltd. (ONAU) shares at a ratio of 0.19574366 ONAU Share for each Northern Superior share as of December 18, 2025.
  • Delisting & Reporting Status: Northern Superior’s common shares will be delisted from the TSX Venture Exchange; an application will be filed to cease reporting in Ontario, British Columbia, Alberta, and Québec.
  • Section 85 Election: Eligible shareholders may elect a Section 85 tax election to defer capital gains, with forms available on IAMGOLD’s website; elections must be submitted within 120 days of closing.
  • Management Comment: Outgoing President & CEO Simon Marcotte thanked shareholders and highlighted IAMGOLD’s capability to develop the Québec camp into a major mining complex.
  • Reference Documents: Full arrangement details are in Northern Superior’s Management Information Circular dated November 10, 2025 (available on SEDAR+).

Notable Quotes

“I would like to thank our shareholders for their enduring confidence and support… IAMGOLD will now be able to fully unlock the value of a unified camp and build it into Québec's next major mining complex…” – Simon Marcotte, President & CEO (outgoing)

Read the original news release →

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