Nobel Closes Private Placement Offering
TORONTO, Nov. 12, 2024 - Nobel Resources Corp. (TSX-V: NBLC; OTCQB: NBTRF) (the "Company" or "Nobel") announces hat it has closed its previously announced non-brokered private placement financing, on an oversubscribed basis, of 25,350,000 units (the "Units") priced at $0.05 per Unit for gross proceeds of $1,267,500 (the "Offering").
Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitle the holder to purchase one Common Share at an exercise price of $0.10 per Common Share for a period of 36 months following the completion of the Offering. Securities issued under the Offering are expected to carry a holder period of 4 months and one day from the date of issue as may be required under applicable securities laws.
The Company plans to use the aggregate net proceeds of the Offering to identify and evaluate mineral properties for potential acquisition as well as general corporate working capital purposes.
In connection with the Offering, Nobel paid finder's fees of $20,612.50 in cash and issued 339,500 non-transferable finder's warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder thereof to acquire one Common Share at a price of $0.05 for a period of 36 months following the completion of the Offering. The Offering is subject to the final approval of the TSX Venture Exchange.
Certain directors and officers of the Company have subscribed for an aggregate amount of 3,500,000 Units pursuant to the Offering (collectively, the "Insider Participation"). The Insider Participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Insider Participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
About Nobel
Nobel Resources is a Canadian resource company focused on identifying and developing prospective mineral projects. The Company has a team with a strong background of exploration success.
For further information, please contact:
Vincent Chen
Investor Relations
vchen@nobel-resources.com
www.nobel-resources.com
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the Offering, the use of proceeds of the Offering, the Company's ability to identify and acquire new projects and restart its business and the Company's future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nobel, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Nobel has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Nobel does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
