NOB:CC - Noble Minerals Announces Non-Brokered Private Placement
(TheNewswire)
Toronto, Ontario – TheNewswire - November 15, 2022 – Noble MineralExploration Inc. ( “Noble” orthe “Company” ) (TSXV:NOB ) , ( FRANKFURT:NB7 ) , ( OTC:NLPXF) is pleased to announce that it is undertaking a non-brokeredprivate placement (the “ Private Placement ”), on a best efforts basis, involving the issuance of upto 5,000,000 flow-through common share units (“ FT Units ”) priced at $0.09 per unit, subject to increase of up to 25% at the discretionof Noble should investor interest warrant doing so. The gross proceedsraised are up to $450,000 (before fees and expenses), subject toincrease as noted. Each FT Unit will be comprised of one commonshare to be issued as a “flow-through share”as defined in the Income TaxAct (Canada) and designated as a flow-throughcommon share (“ FTShare ”) and one-halfnon-flow-through common share purchase warrant, each full warrant(“ Warrant ”) exercisable for threeyears for one common share in the capital of theCompany at an exercise price of $0.11 per common share.
The Company may pay compensation to a broker conductingdue diligence on investors, with the compensation to be paid in cashplus broker warrants of up to 7% of the number of FT Units placed inthe Private Placement (the “ Broker Warrants ”), each Broker Warrantexercisable for three years for one common share in the capital of theCompany at an exercise price of $0.09 per common share.
The securities to be issued in this Private Placementare subject to a four month hold period.
The Private Placement is subject to completion offormal documentation and the approval of the TSX Venture Exchange, aswell as any other required regulatory approvals. Noble intends to usethe proceeds raised through the Private Placement to fund explorationexpenditures on the Company’s properties 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
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