IAMGOLD Corporation closed its acquisition of Northern Superior Resources Inc. on December 19 2025, making Northern Superior a wholly‑owned subsidiary and removing its shares from the TSX Venture Exchange. The transaction was completed for a total consideration of approximately $267.4 million, consisting of 0.0991 IAMGOLD common shares and C$0.19 in cash per Northern Superior share.
The deal value reflects a premium of 27.4 % over the 20‑day VWAP of Northern Superior’s shares at the time of the announcement. The consideration structure—stock plus cash—provides Northern Superior shareholders with immediate liquidity while giving IAMGOLD a fully integrated ownership stake in the assets.
Strategically, the acquisition expands IAMGOLD’s Nelligan Mining Complex in the Chibougamau‑Chapais region of Quebec by adding the Philibert, Nelligan, and Monster Lake properties. These assets are positioned to feed the company’s flagship Côté Gold mine and support future expansion plans, creating a robust Canadian gold pipeline. The move also signals a deliberate shift away from geopolitically exposed West African operations, such as the Essakane mine in Burkina Faso, toward a lower‑risk Canadian portfolio.
Following the acquisition, Canadian assets now represent roughly 80 % of IAMGOLD’s measured and indicated gold ounces, strengthening the company’s exposure to a stable jurisdiction and reducing sovereign‑risk concentration.
Renaud Adams, President and CEO, said the deal “positions the Nelligan Mining Complex among the largest pre‑production gold projects in Canada and accelerates our exploration program in the region.” He added that the expansion “complements both the scale and timing of our Côté Gold Mine and its forthcoming expansion.”
Investors welcomed the announcement, noting the premium paid, the strategic consolidation of a high‑quality gold camp, and the alignment with IAMGOLD’s focus on Canadian assets. The transaction is expected to enhance operational efficiencies and provide a stronger foundation for future growth.
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