Noble Mineral Exploration Updates Progress in Technology Business Evaluation
TORONTO, ONTARIO / TheNewswire / June 15, 2016 - Noble Mineral Exploration Inc. (the "Company") (TSX-V: NOB) announces an update to its ongoing evaluation of new technology-based opportunities in the consumer space.
Following a preliminary survey and initial approaches to a number of privately-held firms in the Internet of Things space, Noble has advanced to in-depth discussions with several firms, including the signing of Non-Disclosure Agreements (NDAs) where warranted, and an analysis of current business plans and their compatibility with potential initiatives in optical wireless communications (OWC) type applications in the Internet of Things (IOT).
IOT refers to the use of embedded sensors, transceivers, and other devices to network objects; the status of such objects may be used to optimize products, services, and operations in commercial applications. OWC is one of several high-speed short-range communications options being evaluated, and includes visible light communication and free space optics.
"The progress we are making, in such a short time, is encouraging," said Mr. Vance White, Chairman and CEO of Noble. "This reinforces our resolve to continue this evaluation of potential new businesses in the IOT and OWC areas."
"We've had extremely positive responses so far from the principals in our discussions, when we enunciate the potential to them," said Dr. Samuel Peralta, who recently joined the Board of Directors and is leading its evaluation. "It's been amazing to see the synergy of our vision with the operations of some of the IOT companies we are talking with."
The framework of Dr. Peralta's recommendations to the Board is modelled after the pivot of Tandem Resources Ltd. into POET Technologies Inc. through the acquisition of OPEL Inc. Initially a photovoltaics company, POET further pivoted into a company providing advanced monolithic optoelectronic platform solutions and, fuelled by recent acquisitions, into a semiconductor device manufacturer with operations in Canada, the US, Europe and Asia. Dr. Peralta was a founding Board member of POET, and was a key figure in both of its pivots.
It should be noted that the Company has neither entered into the technology space nor concluded business arrangements with the privately-held IOT companies signed under NDAs with Noble. Noble remains in its investigative stage and it is the Company's intention not to disclose specific developments with respect to the process, unless and until the Board has approved a course of action. An entry into the technology sector will be subject to regulatory compliance, including shareholder approval.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 70,641 hectares of mineral rights in the Timmins - Cochrane 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:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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