Noble Announces Closing of a Tranche of its Private Placement
August 17, 2018 (Source) — Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) announces the closing of a tranche of its previously announced (see news releases dated August 1 and 14, 2018) non-brokered private placement (the “Private Placement”) by issuing 10,651,666 common share units (“Common Share Units”) priced at $0.06 per Common Share Unit. The aggregate gross proceeds raised in this tranche of the Private Placement amount to $639,100.
Each Common Share Unit issued in the Private Placement consists of one common share of Noble and one common share purchase warrant. Each common share purchase warrant will entitle the holder to acquire one common share of Noble at an exercise price of $0.10 per share for a period of three years following the closing.
In connection with this tranche of the Private Placement, the Company paid a cash commission of $5,100 and issued 85,000 broker warrants. Each such broker warrant will entitle the holder to acquire one common share of Noble at an exercise price of $0.10 per share for a period of three years following the closing.
The securities to be issued in this Private Placement are subject to a four month hold period.
The closing of the Private Placement is subject to 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 provide working capital and fund exploration expenditures, for general and administrative expenditures, to pay debts and to pay mining land taxes so as to maintain its Settlement Agreement with the Ontario Ministry of Northern Development and Mines in good standing.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in excess of 70,641 hectares of mineral rights in the Timmins – Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold 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.