Noble Mineral closes $639,100 tranche of placement

Aug 17, 2018

2018-08-17 07:47 ET – News Release

Mr. H. Vance White reports

NOBLE ANNOUNCES CLOSING OF A TRANCHE OF ITS PRIVATE PLACEMENT

Noble Mineral Exploration Inc. has closed a tranche of its previously announced (see news releases dated Aug. 1 and Aug. 14, 2018) non-brokered private placement by issuing 10,651,666 common share units priced at six cents per common share unit. The aggregate gross proceeds raised in this tranche of the private placement amount to $639,100.

Each common share unit issued in the private placement consists of one common share of Noble and one common share purchase warrant. Each common share purchase warrant will entitle the holder to acquire one common share of Noble at an exercise price of 10 cents per share for a period of three years following the closing.

In connection with this tranche of the private placement, the company paid a cash commission of $5,100 and issued 85,000 broker warrants. Each such broker warrant will entitle the holder to acquire one common share of Noble at an exercise price of 10 cents per share for a period of three years following the closing.

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

The closing of the private placement is subject to 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 to pay mining land taxes so as to maintain its settlement agreement with the Ontario Ministry of Northern Development and Mines in good standing.

About Noble Mineral Exploration Inc.

Noble Mineral Exploration is a Canada-based junior exploration company that, 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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