NOB:CC - Noble Grants Options and RSUs and Provides Update on Upcoming In-Kind Distribution
(TheNewswire)
Toronto, Ontario - TheNewswire - April 8, 2022 - Noble Mineral ExplorationInc. ( “Noble” or the “Company” )(TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) announces that on April 6,2022 (the “ Date ofGrant ”), the Company’s Board approved thegrant of a total of 2,125,00 stock options (the “ Options ”) and1,750,000 restricted share units (“ RSUs ”) to officers,directors, and certain consultants of the Company. The Options weregranted for services rendered in previous financial years and to datein the current financial year. 75,000 of the Options were granted toa party who provides investor relations services to the Company, andtherefore vest 25% every 3 months. The balance of the Options vestimmediately. The RSUs, which vest one year after grant, were grantedfor services to be rendered over the next year. The Options and RSUswere granted pursuant to the 2022 Equity Incentive Plan approved atthe Company’s shareholder meeting on March 14, 2022.
The Options have an exercise price of $0.12 per commonshare of Noble and are exercisable for three years. Out of the totalnumber of Options and RSUs granted, 1,100,000 Options and 1,100,000RSUS were granted to directors and officers of the Company. Upon beingfully vested, the RSUs may be settled in the corresponding number ofcommon shares of the Company, in the cash equivalent of those shares,or in a combination of shares and cash.
The grant of Options and RSUs is subject to compliancewith TSX Venture Exchange requirements. Following the grant of Optionsand RSUs, the Company has a total of 3,525,000 stock optionsoutstanding and 1,750,000 RSUs outstanding.
Upcoming Distribution of CNC shares: Deadline for Exercise of Warrants
As announced by news release on March 9, 2022, Noblewill distribute (the “ Distribution ”) common shares of CanadaNickel Company Inc.(“ CNC ”) to all shareholders of record of theCompany on April 18, 2022 (the “ Record Date ”). The Distribution will be made at a ratio of 0.01725 of a CNC shareper whole common share of Noble held (or approximately 1 CNC share per58 Noble shares held). The Distribution will be made pro rata toshareholders. Only shareholders of record as of the close ofbusiness on the Record Date will be entitled to receive theDistribution.
Unexercised warrants of Noble do not carry anyentitlement to any portion of the Distribution. Those warrant-holderswho intend to exercise their warrants in time to participate in theDistribution are strongly encouraged to arrange for their exercisepackages, with payment, to be received by Noble no later than Noon, Eastern time, onWednesday, April 13, 2022 . Warrant exercisepackages and payments received after that time may not be processed intime for the shares to be issued by the Record Date deadline forparticipation in the Distribution.
About Noble Mineral ExplorationInc.:
Noble Mineral Exploration Inc. is a Canadian-basedjunior exploration company which, in addition to its shareholdings inCanada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonaldMines Exploration Ltd., and its interest in the Holdsworth goldexploration property in the area of Wawa, Ontario, will continue tohold approximately 40,000 hectares of mineral rights in theTimmins-Cochrane areas of Northern Ontario known as Project 81, aswell as an additional ~11,000 hectares in the Timmins area and ~14,000hectares of mining claims in Central Newfoundland. Project 81 hostsdiversified drill-ready gold, nickel-cobalt and base metal explorationtargets at various stages of exploration. It also holds its recentlyacquired the ~14,000 hectare Nagagami Carbonatite Complex near Hearst,Ontario, as well as the Buckingham Graphite Property, the LaverlochereNickel, Copper, PGNM property and the Cere-Villebon Nickel, Copper,PGM property, all of which are in the province of Quebec. Moredetailed information is available on the website at www.noblemineralexploration.com .
Noble’s common shares trade on the TSX VentureExchange under the symbol “NOB”.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release. No stock exchange,securities commission or other regulatory authority has approved ordisapproved the information contained herein.
The foregoing information may contain forward-lookingstatements relating to the future performance of Noble MineralExploration Inc. Forward-looking statements, specifically thoseconcerning future performance, are subject to certain risks and uncertainties, andactual results may differ materially from the Company’s plans andexpectations. These plans, expectations, risks and uncertainties aredetailed herein and from time to time in thefilings made by the Company with the TSX Venture Exchange andsecurities regulators. Noble Mineral Exploration Inc. does notassume any obligation to update or revise its forward-lookingstatements, whether as a result of new information, future events orotherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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