Le Lézard
Classified in: Mining industry
Subject: PERSONNEL ANNOUNCEMENTS

Sprott Board Position, New Board Compensation Determined


SUDBURY, ONTARIO--(Marketwired - April 24, 2017) - Northern Superior Resources Inc. (the "Company" or "Northern Superior") (TSX VENTURE:SUP) is pleased to announce the addition of Mr. David Beilhartz to the Company's Board of Directors. Mr. Beilhartz was nominated by 2176423 Ontario Ltd., a company controlled by Eric Sprott, in accordance with the terms of his $2 million investment in Northern Superior completed March 2nd, 2017 (see Northern Superior press release, March 2nd, 2017).

Dr. T.F. Morris, President and CEO of Northern Superior states: "I could not be more pleased to have someone with Mr. Beilhartz's geological expertise and knowledge joining this Board. Having known Mr. Beilhartz for a very long time, I am very familiar with his work and many accomplishments, and I look forward to his input into all our programs. The placement of Mr. Beilhartz onto the Board further adds to the tremendous strength and breadth of experience of the Company's new Board of Directors (see Northern Superior press release, November 22, 2016)."

The Company has also revised the way in which it compensates independent directors. Each director will now be paid a fee of $20,000 per annum. In addition, the Chairman of the Board and the Chairman of the Audit Committee will each receive an additional sum of $5,000 and all fees will be paid quarterly, in arrears. Subject to exchange approval, one-half of the independent directors' fees will be paid in common shares of the Company and if so approved, the number of shares issuable will be determined based on the closing price of the Company's shares on the date such fees are payable. 

Northern Superior also announces the granting of 9,600,000 incentive stock options to directors and officers of the company. Each option is exercisable at a price of $0.065 per share for a period of five years, subject to regulatory approval.

About Northern Superior

Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Québec, and trades on the TSX Venture Exchange under the symbol SUP.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


These press releases may also interest you

at 16:20
The Chemours Company ("Chemours" or "the Company") today announced the Board of Directors of Chemours declared a quarterly cash dividend of $0.25 per share on the Company's common stock for the second quarter of 2024. The dividend will be paid on...

at 16:15
Tsodilo Resources Limited ("Tsodilo" or the "Company") is pleased to announce that it has negotiated a non-brokered private placement (the "Private Placement") of 1,042,500 units of the Company (the "Units")...

at 15:52
SKY GOLD CORP. ("Sky" or the "Company") is pleased to announce that the TSX Venture Exchange has accepted for filing the amendments to the property option agreements for the acquisitions of 100% interest in each of the Horne...

at 15:50
C2C Metals Corp. (the "Company" or "C2C") today reports the Company has granted 400,000 common stock options, effective, April 29, 2024, to the Chief Executive Officer at a price of 0.16 CDN per share for a three-year period, in accordance with its...

at 15:18
Novelis Inc. will report its earnings for the fourth quarter and full fiscal year 2024 on Monday, May 6, 2024. Following the release, Steve Fisher, president and chief executive officer, and Dev Ahuja, chief financial officer, will discuss the...

at 14:57
Today, Bechtel, the engineering, procurement, and construction company under contract to help complete construction on Plant Vogtle Units 3 and 4 in Waynesboro, Georgia, congratulates Georgia Power and Southern Nuclear on achieving commercial...



News published on and distributed by: