Noble Minerals Announces Non-Brokered Private Placement
Toronto, Ontario - TheNewswire - November 24, 2023 - Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSX-V:NOB) (FRANKFURT:NB7) (OTC:NLPXF) is pleased to announce that it is undertaking a non-brokered private placement (the “Private Placement”), on a best efforts basis, involving the issuance of up to 10,000,000 flow-through common share units (“FT Units”) priced at $0.075 per unit, subject to increase of up to 25% at the discretion of Noble should investor interest warrant doing so. The gross proceeds to be raised are up to $750,000 (before fees and expenses), subject to increase as noted. Each FT Unit will be comprised of one common share to be issued as a “flow-through share” as defined in the Income Tax Act (Canada) and designated as a flow-through common share (“FT Share”) and one-half non-flow-through common share purchase warrant, each full warrant (“Warrant”) exercisable for two years for one common share in the capital of the Company at an exercise price of $0.125 per common share.
The Company may pay compensation to a broker conducting due diligence on investors, with the compensation to be paid in cash plus broker warrants of up to 7% of the number of FT Units placed in the Private Placement (the “Broker Warrants”), each Broker Warrant exercisable for two years for one common share in the capital of the Company at an exercise price of $0.075 per common share.
The securities to be issued in this Private Placement are subject to a four month hold period.
The Private Placement is subject to completion of formal documentation and the approval of the TSX Venture Exchange, as well as any other required regulatory approvals. Noble intends to use the proceeds raised through the Private Placement to fund exploration expenditures on the Company’s properties located in Ontario.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company that, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd. It also has interest in the Holdsworth gold exploration property in the area of Wawa, Ontario. It continues to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional ~11,000 hectares in the Timmins area and ~14,400 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It also holds ~14,600 hectares in the Nagagami Carbonatite Complex and ~4,600 hectares in the Boulder Project both near Hearst, Ontario. In addition, Noble has ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in a Havre St Pierre Nickel, Copper, PGM property, ~518 hectares in the Laverlochere Nickel, Copper, PGM property, all of these are in the Province of Quebec. More detailed information can be found on the Company’s website at:
Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB.”
Neither 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
H. Vance White, President
Investor Relations: firstname.lastname@example.org