Northern Superior Announces Closing Of C$5 Million Non-Brokered Private Placement Financing With Participation Of Strategic Investors And Insiders
Northern Superior Announces Closing Of C$5 Million Non-Brokered Private Placement Financing With Participation Of Strategic Investors And Insiders
02/09/23, 9:47 PM
Location
Money raised
$5 million
Industry
mining
Round Type
seed
Investors
Northern Superior, Northern Superior Resources Inc.
TORONTO, ON / February 9, 2023 / Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSXV:SUP)(OTCQB:NSUPF) is pleased to announce that it has completed the closing (the "Closing") of its CDN$5M non-brokered equity private placement announced on January 24, 2023 (the "Offering"). In connection with the Closing, the Company issued 10,000,000 common shares (each, a "Share") at an issue price of CDN$0.50 per Share, for gross proceeds of CDN$5,000,000. The proceeds of the Offering will be used to fund exploration activities on one or more of its properties and for general corporate purposes.
Company Info
Location
sudbury, ontario, canada
Additional Info
Northern Superior is a gold exploration company focused on the Chapais-Chibougamau Camp in Québec. The Company has consolidated the largest land package in the region, with total land holdings currently exceeding 62,000 hectares. The main properties include Philibert, Lac Surprise, Chevrier and Croteau Est. Northern Superior also owns significant exploration assets in Northern Ontario highlighted by the district scale TPK Project.
The Philibert Project is located 9km from IAMGOLD Corporation's Nelligan Gold project which was awarded the "Discovery of the Year" by the Québec Mineral Exploration Association (AEMQ) in 2019. To date, more than C$13 million (historical value) have been spent on the Philibert Project, with more than 75,000 metres of drilling completed. The Philibert Project is owned by SOQUEM; the Company is currently undergoing an ownership option process, details of which can be found in the corporate presentation. Chevrier hosts an indicated resource of 260,000 ounces Au and an inferred resource of 420,000 ounces Au in the pit-constrained resource, as well as an underground inferred resources of 232,000 ounces Au. Croteau Est hosts an inferred mineral resource of 640,000 ounces Au. Lac Surprise hosts the Falcon Zone Discovery, interpreted to be the western strike extension of IAMGOLD Corporation's Nelligan Deposit.
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 on SEDAR (www.sedar.com).