Noble Mineral Exploration Announces First Tranche Closing of its Private Placement
Toronto, September 1, 2017 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) announces the closing of the first tranche of its previously announced (see news release dated August 25, 2017) private placement (the "Private Placement") by issuing 13,783,330 common share units ("Common Share Units") at $0.06 per Common Share Unit. The aggregate gross proceeds raised in this Private Placement amount to $827,000. 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") entitles 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.
In connection with the Private Placement, the Company paid a cash commission of $17,999.99 and issued 333,333 broker warrants exercisable at $0.06 per unit, each such broker warrant entitling the holder to acquire one common share of Noble and a Warrant exercisable at $0.10 per share for a period of 5 years following the closing.
The securities issued in this Private Placement are subject to a hold period of four months and one day.
The closing of the Private Placement is subject to 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, 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 which, apart from its shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in excess of 70,641 hectares of mineral rights in the Timmins - Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill ready gold and base metal exploration targets at various stages of exploration. 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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