Noble Mineral Exploration Inc. announces the closing of its previously announced non-brokered private placement.
Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB, FRANKFURT:NB7, OTC:NLPXF) announces the closing of its previously announced (see news release dated February 3, 2020) non-brokered private placement (the “Private Placement”). The gross proceeds of the Private Placement were $549,099.96, raised through the issuance of 1,233,333 flow-trough common share units at $0.12 per unit, and 5,013,750 hard dollar common share units at $0.08 per unit. Each flow-through or hard dollar common share unit (the “Common Share Units”) is comprised of one common share and one half of one common share purchase warrant. Each full common share purchase warrant (a “Warrant”) is exercisable for one common share of Noble at $0.12 per share for a period of two (2) years. (In the Private Placement a total of 6,247,083 common shares and 3,123,541 warrants were therefore issued to investors.)
In connection with the Private Placement, the Company paid cash commissions of $38,437 and issued 541,375 broker warrants exercisable for two years.
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, and remains subject to final approval of the Exchange.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in excess of 78,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. More detailed information is available on the website at www.noblemineralexploration.com.
Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB”.
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.
H. Vance White, President