NOB:CC - Noble Mineral Announces Closing of First Tranche of its Non-Brokered Private Placement
(TheNewswire)
Toronto, Ontario - TheNewswire - December 7, 2023 - Noble Mineral Exploration Inc. ( “Noble” or the “Company” ) (TSX-V:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce the closing of the first tranche ofits previously announced non-brokered private placement (the “ Private Placement ”). (Please see Noble’snews release of November 24, 2023.) At this first tranche closing,Noble raised gross proceeds of $112,500 (before fees and expenses)through the issuance of 1,500,000 flow-through common share units (“ FT Units ”) priced at $0.075 per unit. Each FT Unit is comprised of one common share issued asa “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-throughcommon share purchase warrant. Each full warrant issued pursuant tothe FT Units will be exercisable for two years for one common share of the Company at anexercise price of $0.125 per share. Noble may close subsequenttranches of the Private Placement.
The securities issued in this Private Placement aresubject to a four month hold period.
The closing proceeded after conditional approval of thePrivate Placement was granted by the TSX Venture Exchange (the“ Exchange ”), and remains subject to final approval of the Exchange,as well as any other required regulatory approvals.
Noble intends to use the proceeds raised through thePrivate Placement to fund exploration expenditures on the Company’sproperties located in Ontario.
About Noble Mineral ExplorationInc.
Noble Mineral Exploration Inc. is a Canadian-basedjunior exploration company that, in addition to its shareholdings inCanada Nickel Company Inc., Spruce Ridge Resources Ltd., Go MetalsCorp. and MacDonald Mines Exploration Ltd. It also has interest in theHoldsworth gold exploration property in the area of Wawa, Ontario. Itcontinues to hold ~25,000 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 ~14,400hectares 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 ~14,600hectares in the Nagagami Carbonatite Complex and ~4,600 hectares inthe 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 hectaresin a Havre St Pierre Nickel, Copper, PGM property, ~518 hectares inthe Laverlochere Nickel, Copper, PGM property, all of these are in theProvince of Quebec. More detailed information can be found on theCompany’s website at:
https://www.noblemineralexploration.com
Noble’s common shares trade on theTSX Venture Exchange under the symbol “NOB.”
Cautionary Statement
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release. No stock exchange, securities commission or otherregulatory authority has approved or disapproved the informationcontained 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 anduncertainties, and actual results may differ materially from theCompany’s plans and expectations. These plans, expectations, risksand uncertainties are detailed herein and from time to time in thefilings made by the Company with the TSX Venture Exchange andsecurities regulators. Noble Mineral Exploration Inc. does not assumeany obligation to update or revise its forward-looking statements,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: ir@noblemineralexploration.com
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