IAMGOLD Acquires Northern Superior: Towards a New Mining Complex in Quebec

Northern Superior Resources Inc. announced its acquisition by IAMGOLD Corporation, creating the Nelligan mining complex in Chibougamau, Quebec. This transaction involves the exchange of each Northern Superior share for 0.0991 IAMGOLD share and C$0.19 in cash, valuing the transaction at approximately C$375 million.

The acquisition offers Northern Superior shareholders a 45% premium over the previous closing price, with a total value of C$2.05 per share. Shareholders will also benefit from exposure to IAMGOLD's portfolio of high-quality Canadian assets, including the Côté Gold and Westwood mines.

The transaction requires approval by 66.67% of Northern Superior shareholders, with a meeting scheduled for December 2025. The transaction is subject to other conditions, with a potential closing by January 2026.