Noble Mineral agreement for 214 Ontario mining claims
2022-05-17 20:42 ET – Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement dated April 23, 2022, between the company and several arm’s-length parties, whereby the company has agreed to acquire 214 mining claims located near the town of Hearst in Ontario.
Under the terms of the agreement, the company has agreed to issue up to 650,000 common shares at 10 cents per share and 650,000 common share purchase warrants and to incur up to $1-million in exploration expenses as a consideration for the property. Each warrant entitles the holder to acquire one additional common share at 17.5 cents per share for a period of three years from issuance. Additionally, the vendors will retain a 2-per-cent net smelter return (NSR) royalty, of which the company will be able to buy back up to 50 per cent for $1-million during the first five years and for $1.5-million to end of life.
For more information, please refer to the company’s news release dated April 25, 2022.
https://noblemineralexploration.com/
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