Noble Proceeds with a Non-Brokered Private Placement
TSX.V: NOB FWB: NB7 OTC.PK: NLPXF
Noble Proceeds with a Non-Brokered Private Placement
Toronto, Ontario – February 3, 2020 – Noble Mineral Exploration Inc. (“Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK: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 5,000,000 hard dollar Common Share Units (“HD Units”) or flow through
Common Share Units (“FT Units”), subject to increase of up to 25% at the discretion of Noble
should investor interest warrant doing so. The gross proceeds to be raised in this Private
Placement would be u p to $400,000 if fully completed as HD Units, up to $600,000 if fully
completed as FT Units, subject to increase as noted. The Offering Price is $0.08 per HD Unit and
$0.12 per FT Unit. The Company may pay a cash commission of up to 7% of the amount raised
to those providing assistance with the Private Placement, together with the issuance of broker
warrants for 10% of the number of Units placed.
Each HD Unit and each FT Unit would consist of one common share and one half of one common
share purchase warrant. Each such full common share purchase warrant (a “Warrant”) would
allow the holder to acquire one common share of Noble at an exercise price of $0.12 per share,
for a period of two (2) years following the closing.
As previously announced, the shareholders of Noble have approved an arrangement pursuant to
which up to 10 million common shares of Canada Nickel Company Inc. (“Canada Nickel”) are to
be distributed to Noble’s shareholders. (For further details, see Noble’s Management Information
Circular dated November 29, 2019 as filed on SEDAR on December 6, 2019 under Noble’s
profile.)
For any common shares of Noble issued pursuant to closing(s) of this Private Placement that
occur prior to the effective date of that Arrangement, the holder of those shares will be entitled to
receive a portion of the shares of Canada Nickel to be distributed on the same basis, and to the
same extent, as other shareholders of Noble at that time. The shares of Canada Nickel so
received by investors in this Private Placement will be subject to any hold period(s) required under
securities laws or TSX Venture Exchange policies, which may include a four (4) month hold.
The closing is scheduled for February 7, 2020 (or such later date as required), with the
Corporation having the right close earlier or later (in its discretion), and to close in tranches.
The closing of 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 provide working capital
and fund exploration expenditures, for general and administrative expenditures, to pay debts.
Vance White, Noble’s President and CEO commented: “We feel there is a tremendous opportunity
to identify mineral wealth on what has been a relatively underexplored project area within Project
81, in close proximity to very satisfactory infrastructure. A number of drill ready targets have
already been identified, and the capital raised through this Private Placement should allow Noble
to pursue exploration alone and/or with others, as well as provide necessary working capital for
the maintenance of Noble’s properties and its ongoing operations. Noble remains optimistic that
VMS deposits of the Kidd Creek type occur in clusters. We are continuing work on bringing in
Option and JV partners on other parts of our Project 81 holdings, in order to de-risk the exploration
phase on this very large land package of mineral rights”.
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 MacDonald Mines Exploration Ltd., and
its interest in the Holdsworth gold exploration property in the a rea of Wawa, Ontario, holds in
excess of 78,000 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 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”.
Forward-Looking Information
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.
The foregoing inform ation 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 resul ts
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. The Company 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]