Noble Mineral arranges $1-million financing

Jan 24, 2019

2019-01-23 08:06 ET – News Release

Mr. H. Vance White reports

NOBLE PROCEEDS WITH A NON-BROKERED PRIVATE PLACEMENT

Noble Mineral Exploration Inc. is undertaking a non-brokered private placement on a best efforts basis involving the issuance of up to 10 million common share units priced at 10 cents per common share unit. The gross proceeds to be raised in this private placement would be up to $1-million. Depending upon investor interest, the company would consider raising the size of the offering. The company may pay a cash commission of up to 7 per cent of the amount raised to those providing assistance with the private placement, together with the issuance of broker warrants for 10 per cent of the number of common share units issued.

Each common share unit issued in the private placement will consist of one common share of Noble and one common share purchase warrant. Each warrant will entitle the holder to acquire one share at an exercise price of 11 cents per share for a period of three years following the closing.

The securities to be issued in this private placement will be subject to a four-month hold period.

The closing of the private placement is subject to completion of formal documentation and the approval of the TSX Venture Exchange, as well as any other required regulatory approvals.

Noble intends to use the proceeds raised through the private placement to provide working capital and finance exploration expenditures, for general and administrative expenditures, to pay debts and mining land taxes, and to make payments that are due in order to maintain in good standing the company’s agreement with the Ontario Ministry of Northern Development and Mines.

Vance White, Noble’s president and chief executive officer, commented: “Regarding our Project 81, we feel there is a tremendous opportunity to identify mineral wealth on what has been a relatively underexplored project area in close proximity to very satisfactory infrastructure. A number of drill-ready targets have already been identified. Noble remains optimistic that VMS deposits of the Kidd Creek type occur in clusters. We are continuing to work on bringing in option and joint venture partners on other parts of our Project 81 holdings, in order to derisk the exploration phase on this very large land package of mineral rights.”

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 79,000 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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