Northern Superior make key corporate decision to spinout Ontario assets including the TPK project
July 11, 2023 at 04:27 pm EDT
Share
(via NewsDirect)
Northern Superior Resources CEO Simon Marcotte joined Steve Darling from Proactive to to announce the company's decision to sell all of its exploration properties in Ontario, including the TPK and October Gold property, along with other assets, into a spinout company. This strategic move aims to establish a dedicated company with its own capital and management team to maximize the potential of Northern Superior's Ontario assets.
Marcotte explained that Northern Superior will remain the largest shareholder of the newly formed spinout company. Additionally, Rodney Barber, the Senior Vice-President of Exploration at Northern Superior, is proposed to serve as the President of the new entity.
The company believes that their Ontario assets hold significant exploration opportunities on a district scale in a favorable jurisdiction. The spinout represents the best approach to unlock value for Northern Superior's shareholders by focusing specifically on advancing these assets. The decision to create a spinout company dedicated to Northern Superior's Ontario properties underscores the company's commitment to maximizing the potential of these assets.
By establishing a separate entity with its own management team and resources, the spinout company can concentrate on advancing the exploration projects and strategically positioning itself to deliver value to shareholders.
Contact Details
Proactive Canada
+1 604-688-8158
na-editorial@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.
Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Northern Superior Resources Inc. is a Canada-based gold exploration company. The Company is engaged in the identification, acquisition, evaluation and exploration of gold properties in Ontario and Quebec. Its projects include Ti-pa-haa-kaa-ning (TPK) Property, Lac Surprise Property, Croteau Est Property, Gaspard Nord Property, Wapistan Property, Chevrier Gold Property, October Gold Property and Philibert gold. The TPK property consists of approximately 2,431 claims that encompass an area of approximately 47,796 hectares, located in northwestern Ontario. The Company owns a 100% interest in the Lac Surprise property located within the Chapais-Chibougamau gold camp of Quebec. The Company owns a 100% interest in the Wapistan Property, Quebec. The Gaspard Nord Property consists of over five claims covering an area of 2.8 square kilometer (km2) is located in Quebec. Chevrier Gold property is located near Chibougamau, Quebec, with multiple claim block, which covers an area of over 275 km2.
NORTHERN SUPERIOR RESOURCES INC. 
