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Northern Superior Resources Inc V.SUP

Alternate Symbol(s):  NSUPF

Northern Superior Resources Inc. is a Canada-based gold exploration company focused on the Chibougamau Camp in Quebec, Canada. The Company has consolidated the land package in the region, with total land holdings exceeding 62,000 hectares (ha). The main properties include Philibert, Lac Surprise, Chevrier and Croteau. It also owns 72% of ONGold Resources Ltd., which is advancing exploration assets in Northern Ontario, including the district scale TPK Project. The Philibert Project is located 9 kilometers (km) from IAMGOLD Corporation’s Nelligan Gold project. It holds a majority stake of 75% in the Philibert Project, with the remaining 25% owned by Mines Royales and Soquem Inc., and retains an option to acquire the full 100% ownership of the project. Chevrier hosts an inferred mineral resource of 652,000 ounces Au and an indicated mineral resource of 260,000 ounces Au. Croteau hosts an inferred mineral resource of 640,000 ounces Au. Lac Surprise hosts the Falcon Zone Discovery.


TSXV:SUP - Post by User

Comment by lowgraderon Mar 14, 2018 11:38am
192 Views
Post# 27713458

RE:Clarity..

RE:Clarity..What about Sprott? And would you like to go for another 2-3 year ride on the property, Starting back in 2003 would be 15 years say divide by 3 that would be 5 times. Same wonderful stories are getting pretty damn old to me. All that glitters is just more constructive English that is getting mighty stale ! Sprott Offering: Sprottco and Northern Superior have agreed to a non-brokered private placement, with Sprottco to acquire 40,000,000 units ("Units") at a price $0.05 per Unit for gross proceeds of $2,000,000 (the "Sprott Offering"). Each Unit is comprised of one (1) common share and one (1) non-transferable share purchase warrant exercisable at a price of $0.075 per share for a period of two (2) years from date of closing. Sprottco will be entitled to nominate one person to the Company's board, so long as he maintains a minimum 10% interest in the Company. Proceeds from the Sprott Offering will be used for general and administrative and other corporate purposes. Concurrent Offering: The Company is also conducting a non-brokered concurrent private placement, consisting of Units under the same terms as the Sprott Offering (the "Unit Offering") and flow-through common shares, at a price of $0.055 per share (the "FT Offering"), for combined gross proceeds of $2,500,000. The Unit and the FT Offerings are collectively referred to as the "Concurrent Offering". Subscribers will be provided a choice of receiving Units or Flow Through shares or a combination of both. Proceeds from the FT Offering are intended to be used to support exploration programs on the Company's 100% owned, Ti-pa-haa-kaa-ing (TPK) gold- silver- copper property in northwestern Ontario. In connection with the FT Offering, the Company will incur "Canadian exploration expenses" as defined in the Income Tax Act (Canada) in an amount equal to the gross proceeds of the FT Offering and proposes to renounce such expenditures to subscribers of the FT Offering, with an effective date of December 31, 2017. Read more at https://www.stockhouse.com/news/press-releases/2017/02/13/eric-sprott-to-acquire-a-strategic-interest-in-northern-superior-resources#uTjFITwfQQc46WLE.99
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