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.
View source version on newsdirect.com: https://newsdirect.com/news/northern-superior-make-key-corporate-decision-to-spinout-ontario-assets-including-the-tpk-project-888566744
Northern Superior Resources Inc.