NOB:CC - Noble Mineral Closes Non-Brokered Private Placement
(TheNewswire)
Toronto, Ontario – TheNewswire - December 2, 2022 – Noble MineralExploration Inc. ( “Noble” orthe “Company” ) (TSXV:NOB ) , ( FRANKFURT:NB7 ) , ( OTC:NLPXF) is pleased to announce the closing of its previouslyannounced (see the news release dated November 15, 2022) non-brokeredprivate placement (the “ Private Placement ”)whereby it raised gross proceeds of $562,500 (before fees and expenses) through the issuance of6,250,000 flow-through common share units (“ FT Units ”) priced at $0.09 per unit. Each FT Unit was comprised of one common share 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-throughcommon share purchase warrant, each full warrant being exercisable for three years for one commonshare in the capital of the Company at an exercise price of $0.11 percommon share.
In connection with the Private Placement, the Companypaid cash commission of $31,500 and issued 350,000 broker warrants exercisable for three years for one commonshare in the capital of the Company at an exercise price of $0.09 percommon share.
The securities issued in this Private Placement aresubject to a four month hold period.
The closing proceeded after conditional approval ofthe Private 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 Quebec.
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., Go MetalsCorp. and MacDonald Mines Exploration Ltd., and its interest in theHoldsworth gold exploration property in the area of Wawa, Ontario,will continue 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 will also hold its~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600hectares in the Boulder Project both near Hearst, Ontario, as well as~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectaresin the Havre St Pierre Nickel, Copper, PGM property, ~518 hectaresin the Laverlochere Nickel, Copper, PGM property and ~482 hectares inthe Cere-Villebon Nickel, Copper, PGM property, all of which are inthe province of Quebec. More detailed information is available onthe website at www.noblemineralexploration.com .
Noble’s common shares trade on the TSX VentureExchange 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
Copyright (c) 2022 TheNewswire - All rights reserved.