IAMGOLD (NYSE: IAG) to acquire Northern Superior for $267.4 million

IAMGOLD Corporation (NYSE: IAG) announced it has entered into a definitive arrangement agreement to acquire all outstanding shares of Northern Superior Resources Inc. (SUP) (NSUPF) for approximately $267.4 million through a court-approved plan of arrangement.

Under the agreement, Northern Superior shareholders will receive 0.0991 of an IAMGOLD common share and C$0.19 in cash for each Northern Superior share, representing total consideration of C$2.05 per share. The offer represents a 27.4% premium based on the 20-day volume-weighted average prices of both companies as of October 17, 2025.

The transaction will combine Northern Superior’s land package and deposits, including Philibert, Chevrier and Croteau, with IAMGOLD’s Nelligan and Monster Lake projects to form the Nelligan Mining Complex. The combined assets will contain Measured and Indicated Mineral Resources of 3.75 million ounces of gold and Inferred Mineral Resources of 8.65 million ounces of gold.

The acquisition adds 70,636 hectares of claims to IAMGOLD’s holdings, creating a consolidated land position of over 109,000 hectares in Quebec’s Chibougamau district. The primary deposits are located within a 17-kilometer radius, supporting a conceptual central processing facility.

Upon completion, existing IAMGOLD and Northern Superior shareholders will own approximately 97% and 3% of the combined company, respectively. The transaction includes a concurrent distribution to Northern Superior shareholders of all common shares in ONGold Resources Ltd. currently held by Northern Superior.