Noble Announces Closing of its Non-Brokered Private Placement
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
Noble Announces Closing of its Non-Brokered Private Placement
Toronto, Ontario – February 4, 2019 – Noble Mineral Exploration Inc. (“Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) announces the closing of its
previously announced (see the news release issued on January 23, 2019 by Noble) non-brokered
private placement (the “ Private Placement ”), involving the issuance of 10,050,000 common
share units (“Common Share Units”) priced at $0. 10 per Common Share Unit . The aggregate
gross proceeds raised in this Private Placement amount to $1,005,000.
Each Common Share Unit issued in the Private Placement consist s of one common share of
Noble (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles
the holder to acquire one Share at an exercise price of $0.11 per Share for a period of three years
following the closing.
In connection with the Private Placement, the Company paid a cash commission of $23,150 and
issued 308,000 broker warrants exercisable at $0.11 per Share for a period of three years.
The securities issued in this Private Placement are subject to a four month hold period.
The closing of the Private Placement is subject to the final approval of the TSX Venture Exchange,
as well as any other required regulatory approvals.
Noble will use the proceeds of the Private P lacement to provide working capital and fund
exploration expenditures, for general and administrative expenditures and to pay debts and
mining land taxes (including to make payments that are due in order to maintain in good standing
the Company’s agreement with the Ontario Ministry of Northern Development and Mines in
relation to mining land taxes).
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 in MacDonald Mines Exploration Ltd.
and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in
excess of 79,000 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 VMS 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”.
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 t o 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: [email protected]
Investor Relations
Email: [email protected]