Nobel Resources Closes the Final Tranche of $5M Brokered Offering of Units

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Nobel Resources Corp. (“Nobel” or the “Company”) (TSX VENTURE: NBLC) is pleased to announce that, further to its press release of September 20, 2021, it has completed the final tranche (the “Final Tranche”) of its brokered private placement (the first tranche and Final Tranche collectively referred to as the “Offering”) of units (the “Units”). Pursuant to the Final Tranche, Nobel has issued an aggregate of 7,777,780 Units at an issue price of $0.45 per Unit (the “Offering Price”) for gross proceeds of $3,500,000. Pursuant to the Offering, the Company issued an aggregate of 11,111,112 Units at the Offering Price for total gross proceeds of $5,000,000. The Offering was led by Clarus Securites Inc., together with iA Private Wealth Inc. and Research Capital Corporation (collectively, the “Agents”).

Each Unit is comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.60 for 36 months following the date hereof (the “Closing Date”). The Warrants were issued pursuant to, and the exercise of the Warrants will be governed by, the provisions of a warrant indenture (the “Warrant Indenture”) dated September 23, 2021, entered into between the Company and Computershare Trust Company of Canada, as warrant agent. A copy of the Warrant Indenture is available under the Company’s issuer profile on SEDAR at www.sedar.com.

In connection with the Final Tranche, the Agents were paid a cash commission of $210,000, being equal to 6.0% of the gross proceeds raised under the Final Tranche and 466,666 broker warrants (“Broker Warrants”) of the Company which is equal to 6.0% of the number of Units sold to subscribers in the Final Tranche. Each Broker Warrant shall be exercisable to purchase one Common Share of the Company at an exercise price equal to the Offering Price at any time for a period of 36 months following the Closing Date. The completion of the Offering is subject to final approval of the TSX Venture Exchange (the “TSX-V”).

The net proceeds of the Offering shall be used for project exploration and for other general and corporate purposes. All securities issued in connection with the Final Tranche are subject to a statutory hold period of four months and one day from the Closing Date, in accordance with applicable Canadian securities laws.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer and its management, as well as financial statements.

About Nobel

Nobel Resources has the right to acquire 100% interest in the Algarrobo Iron Oxide Copper Gold Ore (IOCG), a potential IOCG style high grade copper property in Chile. The country is a top mining jurisdiction as it is strategically located within 25 km from port and has world-class IOCG deposits within the Major Candelaria belt. Chile’s mining capabilities benefit from close to surface, high grade mineralization within the mining face and has the necessary permitting in place.

For further information, please contact:
David Gower
Chief Executive Officer
info@nobel-resources.com
Telephone: (416) 861-5902
www.nobel-resources.com

FORWARD LOOKING STATEMENTS AND DISCLAIMERS

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, the use of proceeds of the Offering; the Company’s future plans; and TSX-V approval of the Offering. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected” “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”. “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; operational risks including those related to title, significant uncertainty related to inferred mineral resources, operational hazards, unexpected geological situations, unfavourable mining conditions, changing regulations and governmental policies, failure to obtain required permits and approvals from government authorities, failure to obtain any required approvals of the TSXV, failure to obtain any required shareholder approvals, failure to obtain any required financing, failure to complete any of the transactions described herein, increased competition from other companies many of which have greater financial resources, dependence on key personnel and environmental risks and the other risks described in the Company’s continuous disclosure filings with securities regulators available under the Company’s profile at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

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.