Northern Superior Completes Mining Asset Spinout

Northern Superior Resources (TSE:SUP) has released an update.

Northern Superior Resources and ONGold Resources have finalized the spinout transaction of their Ontario mining projects, with ONGold acquiring full interest and set to begin trading its common shares on the TSX Venture Exchange. The deal completion includes a $5.2 million financing, positioning ONGold to advance the Ti-pa-haa-kaa-ning Project and other assets, with Northern Superior retaining a 72.35% stake in the newly structured company valued at $18.2 million.

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