Shares Resume Traded Following Tuesday Halt

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Tuesday, September 6, 2022

Two separate micro caps were halted during Tuesday’s session at the request of the companies due to some pending news. Later on in the session, shares of both companies resumed trade and it was announced that Northern Superior Resources Inc. (TSX-V:SUP) (OTCQB:NSUPF) and Royal Fox Gold Inc. (TSX-V:FOXG) have entered into a definitive arrangement agreement dated September 6, 2022 to which Northern Superior has agreed to acquire all of the issued and outstanding common shares of Royal Fox. 

Shares trading on the Canadian side saw some action as shares of Northern Superior Resources Inc. Dropped down to $0.46/share (-8.00%) at its session low while the company being acquired, Royal Fox Gold Inc. climbed up to $0.06/share (+33.33%) at the session high.

Company Backgrounds:

Royal Fox Gold Inc is engaged in the exploration and evaluation of properties in Canada. The company's gold exploration property is the Philibert Property located in Quebec.

Northern Superior Resources Inc is an exploration-stage junior mining company. It is engaged in the identification, acquisition, evaluation, and exploration of gold properties in Ontario and Quebec. It currently operates in a single segment, being the mining business in Canada and all its resource properties and equipment are situated in Canada. Its properties include TI-PA-HAA-KAA-NING (TPK) Gold/Silver/Copper Property, Croteau Est Gold Property, Lac Surprise Gold Property and many more.

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