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Toronto, Ontario TheNewswire - November 15, 2022 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce that it is undertaking a non-brokered private placement (the " Private Placement "), on a best efforts basis, involving the issuance of up to 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 discretion of Noble should investor interest warrant doing so. The gross proceeds raised are up to $450,000 (before fees and expenses), subject to increase as noted. Each FT Unit will be comprised of one common share to be 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-through common share purchase warrant, each full warrant (" Warrant ") exercisable for three years for one common share in the capital of the Company at an exercise price of $0.11 per common share.
The Company may pay compensation to a broker conducting due diligence on investors, with the compensation to be paid in cash plus broker warrants of up to 7% of the number of FT Units placed in the Private Placement (the " Broker Warrants "), each Broker Warrant exercisable for three years for one common share in the capital of the Company at an exercise price of $0.09 per common share.
The securities to be issued in this Private Placement are subject to a four month hold period.
The Private Placement is subject to completion of formal documentation and the approval of the TSX Venture 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 Quebec.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue 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 will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, ~518 hectares in the Laverlochere Nickel, Copper, PGM property and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. 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".
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: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
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