Noble Mineral Closes Non-Brokered Private Placement

(via TheNewswire)

  

Toronto, Ontario –TheNewswire -January 2, 2024 – Noble Mineral Exploration Inc.(“Noble”or the“Company”)(TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF)is pleased to announce the closing of its previously announced (see the news releases of November 24, and December 7 and 22, 2023) non-brokered private placement (the “Private Placement”) whereby it raised gross proceeds of approximately $721,250 (before fees and expenses) through the placement of 9,616,666 flow-through common share units (“FT Units”)pricedat$0.075 per unit.Each FT Unit wascomprised ofone common share issued as a “flow-through share” as defined in theIncome 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 being exercisable fortwo yearsfor one common share in the capital of the Company at an exercise price of $0.125 per common share. Noble issued a total of9,616,666FT Shares and4,808,333 warrants in the Private Placement. (Note that the December 22, 2023 news release has inadvertently reported the total number of warrants issued in the Private Placement as 3,948,333 warrants. This news release corrects that error.)

 

In connection with the Private Placement, the Company paid cash commissions of approximately $49,087 and issued a total of 654,500 broker warrants, each such warrant being exercisable for two years for one common share of the Company at an exercise price of $0.075 per share.

 

The securities issued in this Private Placement are subject to a four month hold period.

 

The closing proceeded after conditional approval of the 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 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:

 

https://www.noblemineralexploration.com  

 

 Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB.” 

 

Cautionary Statement

 

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.

 

Contacts

 

H. Vance White, President

Phone:         [phone]

Fax:                416-367-1954

Email:        [e-mail]

Investor Relations: [e-mail]       

  

Copyright (c) 2024 TheNewswire - All rights reserved.

Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases