Business
IAMGOLD Agrees to Acquire Northern Superior Consolidating a Premier Mining Jurisdiction
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. Toronto, Ontari...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Agrees to Acquire Northern Superior Consolidating a Premier Mining JurisdictionAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - October 20, 2025) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (\"IAMGOLD\" or the \"Company\") is pleased to announce that it has entered into a definitive arrangement agreement (the \"Agreement\") whereby IAMGOLD will acquire all of the issued and outstanding shares of Northern Superior Resources Inc. (TSXV: SUP) (OTCQB: NSUPF) (GR: D9M1) (\"Northern Superior\") by way of a court-approved plan of arrangement (the \"Transaction\") under the Business Corporations Act (British Columbia). The Transaction will consolidate Northern Superior's significant land package and notable deposits, including Philibert, Chevrier and Croteau, with IAMGOLD's Nelligan and Monster Lake Projects. The combined assets, together the \"Nelligan Mining Complex\", will rank as one of the largest pre-production gold camps in Canada with Measured and Indicated Mineral Resources of 3.75 million ounces of gold (\"Moz Au\") and Inferred Mineral Resources of 8.65 Moz Au. The close proximity of the primary deposits to each other supports the conceptual vision of a central processing facility being fed from multiple ore sources within a 17-kilometre radius.Pursuant to the Agreement, Northern Superior's shareholders will receive 0.0991 of an IAMGOLD common share (\"IAMGOLD Shares\") and C$0.19 in cash for each common share of Northern Superior (\"Northern Superior Share\"). This implies total consideration of C$2.05 per Northern Superior Share, a total transaction value of approximately $267.4 million and represents a premium of 27.4% based on the 20-day volume-weighted average prices (\"VWAP\") of IAMGOLD on the Toronto Stock Exchange (\"TSX\") and Northern Superior on the TSX Venture Exchange as at October 17, 2025. The Transaction will also include a concurrent distribution to Northern Superior's shareholders of all the common shares in the capital of ONGold Resources Ltd. currently held by Northern Superior.Upon completion of the Transaction, it is expected that existing IAMGOLD and Northern Superior shareholders will own approximately 97% and 3% of the pro forma company, respectively. Highlights of the TransactionMore than doubles IAMGOLD's landholding in the ...