American Marconi Wireless News - Northern Superior Announces Closing of the Arrangement

As a result of the completion of the Arrangement and the acquisition by IAMGOLD of all of the Company Shares, Northern Superior became a wholly-owned subsidiary of IAMGOLD. Former Northern Superior shareholders are now entitled to receive, in exchange for each Company Share held immediately prior to the effective time of the Arrangement, a combination of (i) 0.0991 of an IAMGOLD common share, and (ii) C$0.19 in cash. The Arrangement also included a distribution to Northern Superior's former shareholders of all the common shares of ONGold Resources Ltd. (the "ONAU Shares") previously held by Northern Superior on the basis of a distribution ratio of 0.19574366 ONAU Share for each Company Share held by the former shareholders of Northern Superior as at December 18, 2025. The Company Shares will be delisted from the TSX Venture Exchange and an application will be made for Northern Superior to cease to be a reporting issuer in Ontario, British Columbia, Alberta and Québec.

"I would like to thank our shareholders for their enduring confidence and support, which have been fundamental to our progress and success. I am equally proud of our team, whose commitment, discipline, and hard work, both over the years and throughout this transaction, have positioned the Company for this meaningful outcome. I also extend my appreciation to our financial and legal advisors, as well as to the IAMGOLD team, for their professionalism and constructive approach during the process," said Simon Marcotte, outgoing President and Chief Executive Officer of Northern Superior. "As I remarked when this transaction was originally made public, IAMGOLD is a company with extraordinary momentum, powered by a leadership team that has flawlessly executed the development of the now-iconic Côté Gold Mine, a highly strategic operation located in one of the world's most sought-after mining jurisdictions. Backed by this unique, repeatedly proven, and Québec-rooted expertise, IAMGOLD will now be able to fully unlock the value of a unified camp and build it into Québec's next major mining complex, with far-reaching economic and social repercussions across the province."

Section 85 Election

Former shareholders who are eligible holders may elect, pursuant to section 85 of the Income Tax Act (Canada) (and any corresponding provisions of any applicable provincial tax legislation), to defer some or all of any capital gain they would otherwise realize on the sale of their respective Company Shares pursuant to the Arrangement (a "Section 85 Election"). Any eligible holder who wishes to make a Section 85 Election may do so by providing a signed copy of the relevant tax election form(s) to IAMGOLD within 120 days of the closing of the Arrangement. Copies of the relevant tax election form(s) will be made available on IAMGOLD's website at www.iamgold.com. Former shareholders are encouraged to consult their tax advisors on how to make a Section 85 Election, as applicable.

Full details of the Arrangement are included in Northern Superior's management information circular dated November 10, 2025, which can be found under Northern Superior's profile on SEDAR+ at www.sedarplus.ca.

About Northern Superior Resources Inc.

Northern Superior is a gold exploration company focused on the Chibougamau Camp in Québec, Canada. The Company has consolidated the largest land package in the region, with total landholdings currently exceeding 70,000 hectares. The main properties include Philibert, Hazeur (adjacent to Philibert), Lac Surprise (adjacent to Nelligan), Chevrier, Croteau, Monster Lake East, and Monster Lake West.

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP and the OTCQB Venture Market under the symbol NSUPF. For further information, please refer to the Company's website at www.nsuperior.com or the Company's profile on SEDAR+ at www.sedarplus.ca.

About IAMGOLD

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, including Côté Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Côté Gold Mine achieved full nameplate in June 2025 and has the potential to be among the largest gold mines in Canada. IAMGOLD operates Côté in partnership with Sumitomo Metal Mining Co. Ltd. In addition, IAMGOLD has an established portfolio of early stage and advanced exploration projects within high potential mining districts. IAMGOLD employs approximately 3,700 people and is committed to maintaining its culture of accountable mining through high standards of Environmental, Social and Governance practices. IAMGOLD is listed on the New York Stock Exchange (NYSE: IAG) and the Toronto Stock Exchange (TSX: IMG).

Northern Superior Resources Inc. on Behalf of the Board of Directors

Simon Marcotte, CFA, President and Chief Executive Officer

Contact Information

Katrina Damouni
Director - Corporate Development
Tel: +44 7795 128583 (Mobile/WhatsApp)
[email protected]

The TSX Venture Exchange has in no way passed upon the merits of the Arrangement and has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Northern Superior Resources Inc.

View the original press release on ACCESS Newswire

L.Davis--AMWN