Noble Announces Shares for Debt Agreement for $80,000
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
Noble Announces Shares for Debt Agreement for $80,000
Toronto, Ontario – May 16, 2013, Noble Mineral Exploration Inc. (the "Company", “Noble” or “NOB”) (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) is pleased to announce that it has entered into shares-for-debt agreements (the "Agreements") with two arm's length service providers/creditors (the "Creditors").
Pursuant to the Agreements, and subject to TSX Venture Exchange Approval, the Company will issue to the Creditors an aggregate of 1,600,000 common shares in the capital of the Company ("Shares") at a deemed price of $0.05 per Share. The total amount of indebtedness to be settled by the Agreements is $80,000. The Company decided to satisfy this outstanding indebtedness with Shares to preserve its cash for operations.
Shares issued to the Creditors will be subject to a four-month hold period from the settlement date.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 72,000 hectares of property in the Timmins, Iroquois Falls and Smooth Rock Falls areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan.
More detailed information is available on the website at www.noblemineralexploration.com
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:
Noble Mineral Exploration Inc.
H. Vance White, President Phone: 416-214-2250 Fax: 416-367-1954 eMail: [email protected]
Investor Relations Phone: 416-214-2250 eMail: [email protected]