Noble Mineral closes $562,500 private placement

Dec 2, 2022

2022-12-02 10:11 ET – News Release

Mr. Vance White reports

NOBLE MINERAL CLOSES NON-BROKERED PRIVATE PLACEMENT

Noble Mineral Exploration Inc. has closed its previously announced (see the news release dated Nov. 15, 2022) non-brokered private placement whereby it raised gross proceeds of $562,500 (before fees and expenses) through the issuance of 6.25 million flow-through common share units priced at nine cents per unit. Each FT unit comprised one common share issued as a flow-through share as defined in the Income Tax Act (Canada) and designated as a flow-through common share and one-half non-flow-through common share purchase warrant, each full warrant being exercisable for three years for one common share in the capital of the company at an exercise price of 11 cents per common share.

In connection with the private placement, the company paid cash commission of $31,500 and issued 350,000 broker warrants exercisable for three years for one common share in the capital of the company at an exercise price of nine cents per common share.

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

The closing proceeded after conditional approval of the private placement was granted by the TSX Venture Exchange, and remains subject to final approval of the exchange, as well as any other required regulatory approvals.

Noble intends to use the proceeds raised through the private placement to finance exploration expenditures on the company’s properties located in Quebec.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ont., will continue to hold approximately 25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional approximately 11,000 hectares in the Timmins area and approximately 14,400 hectares of mining claims in central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its approximately 14,600 hectares in the Nagagami carbonatite complex and its approximately 4,600 hectares in the Boulder project both near Hearst, Ont., as well as approximately 3,700 hectares in the Buckingham graphite property, approximately 10,152 hectares in the Havre St. Pierre nickel-copper-PGM (platinum group metal) property, approximately 518 hectares in the Laverlochere nickel-copper-PGM property and approximately 482 hectares in the Cere-Villebon nickel-copper-PGM property, all of which are in the province of Quebec.

We seek Safe Harbor.

https://noblemineralexploration.com/