Northern Superior Completes $5 Million Private Placement, Welcomes New Investor

Northern Superior Resources Inc. has successfully closed a $5 million private placement. The financing was completed by issuing 6.5 million common shares priced at $0.77 each. The initiative was led by Cormark Securities Inc. as the sole underwriter. A commission of approximately 6% of the gross proceeds was paid to the underwriter. The funds will be utilized for working capital and general corporate purposes.

The offering benefited from the listed issuer financing exemption, allowing securities to Canadian residents without a hold period under Canadian laws. Final acceptance from the TSX Venture Exchange is pending customary post-closing filings.

Additionally, NQ Investissement Minier, a Quebec-based investment fund, participated in the offering. This fund focuses on sustainable mining developments in Northern Québec, promoting benefits for local and First Nation communities.