Noble Mineral fully subscribes final placement tranche

Sep 7, 2017

2017-09-07 08:01 ET – News Release

Mr. H. Vance White reports

NOBLE ANNOUNCES SECOND AND FINAL TRANCHE OF ITS PRIVATE PLACEMENT

The financing Noble Mineral Exploration Inc. announced on Aug. 25, 2015, has been fully subscribed. As previously announced (see the company’s news release of Sept. 1, 2017), aggregate gross proceeds of $827,000 were raised through the issuance of 13,783,330 common share units in a first tranche closing. Subscriptions have been confirmed for the balance of the common share units and flow-through units in the private placement.

Noble will therefore close on these subscriptions, such that approximately $373,000 of additional financing is raised through the issuance of 6,216,666 additional common share units, and approximately $750,000 of additional financing is raised for exploration expenditures through the issuance of 10 million flow-through units. An amount of $89,800 will be payable by Noble as a cash commission, as well as 413,333 broker warrants exercisable for common share units at six cents per unit, and one million broker warrants exercisable for common share units at 7.5 cents per unit. All broker warrants will be exercisable for five years.

Each common share unit in this private placement (or upon exercise of broker warrants) comprises one common share and one warrant exercisable at 10 cents per common share for five years. Each flow-through unit comprises one flow-through common share and one warrant exercisable at 10 cents per common share for five years.

The securities to be issued in the second tranche of the private placement will be 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 is a Canadian-based junior exploration company, which, in addition to its shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Holdsworth gold exploration property in the area of Wawa, Ont., 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.

We seek Safe Harbor.

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