Noble Announces Private Placement of Common Share Units and Flow-Through Units
Toronto, March 7, 2017 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) announces that it has engaged IBK Capital Corp. ("IBK") to complete a best efforts private placement (the "Private Placement") of up to 5,000,000 common share units ("Common Share Units") at $0.06 per Common Share Unit and of up to 10,000,000 flow-through units ("Flow-Through Units") at $0.075 per Flow-Through Unit. The aggregate gross proceeds to be raised in this Private Placement will amount to up to $1,050,000. In connection with the Private Placement, the Company agreed to pay IBK a cash commission of 9% of the amount raised through its assistance and 10% of the amount raised in broker warrants. Each Common Share Unit consists of one common share of Noble and one common share purchase warrant. Each such common share purchase warrant (a "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 5 years following the closing. Each Flow-Through Unit consists of one common share of Noble to be issued as a "flow through share" and one non-flow-through Warrant.
The securities to be issued in this Private Placement will be subject to a hold period of four months and one day.
The closing of the Private Placement is subject to completion of formal documentation and the approval of the TSX Venture Exchange, as well as other required regulatory approvals.
Noble will use the proceeds of the Private Placement to continue its exploration activities on Project 81 (in particular as relates to the proceeds raised from the sale of Flow-Through Units), to pay debts and for general working capital purposes.
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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