Noble Mineral grants 1M RSUs, options to buy 2M shares

Apr 8, 2022

2022-04-08 09:56 ET – News Release

Mr. H. Vance White reports

NOBLE GRANTS OPTIONS AND RSUS AND PROVIDES UPDATE ON UPCOMING IN-KIND DISTRIBUTION

Noble Mineral Exploration Inc., on April 6, 2022, approved the grant of a total of 2,125,000 stock options and 1.75 million restricted share units (RSU) to officers, directors and certain consultants of the company. The options were granted for services rendered in previous financial years and to date in the current financial year. Seventy-five thousand of the options were granted to a party who provides investor relations services to the company, and therefore vest 25 per cent every three months. The balance of the options vest immediately. The RSUs, which vest one year after grant, were granted for services to be rendered over the next year. The options and RSUs were granted pursuant to the 2022 equity incentive plan approved at the company’s shareholder meeting on March 14, 2022.

The options have an exercise price of 12 cents per common share of Noble and are exercisable for three years. Out of the total number of options and RSUs granted, 1.1 million options and 1.1 million RSUS were granted to directors and officers of the company. Upon being fully vested, the RSUs may be settled in the corresponding number of common shares of the company, in the cash equivalent of those shares, or in a combination of shares and cash.

The grant of options and RSUs is subject to compliance with TSX Venture Exchange requirements. Following the grant of options and RSUs, the company has a total of 3,525,000 stock options outstanding and 1.75 million RSUs outstanding.

Upcoming distribution of CNC shares: deadline for exercise of warrants

As announced by news release on March 9, 2022, Noble will distribute common shares of Canada Nickel Company Inc. to all shareholders of record of the company on April 18, 2022. The distribution will be made at a ratio of 0.01725 of a Canada Nickel Company share per whole common share of Noble held (or approximately 1 Canada Nickel Company share per 58 Noble shares held). The distribution will be made pro rata to shareholders. Only shareholders of record as of the close of business on the record date will be entitled to receive the distribution.

Unexercised warrants of Noble do not carry any entitlement to any portion of the distribution. Those warrantholders who intend to exercise their warrants in time to participate in the distribution are strongly encouraged to arrange for their exercise packages, with payment, to be received by Noble no later than noon, Eastern Time, on Wednesday, April 13, 2022. Warrant exercise packages and payments received after that time may not be processed in time for the shares to be issued by the record date deadline for participation in the distribution.

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, Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold approximately 40,000 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 14,000 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 also holds its recently acquired, approximately 14,000-hectare Nagagami Carbonatite complex near Hearst, Ont., as well as the Buckingham graphite property, the Laverlochere nickel-copper-platinum-group-metal (PGM) property and the Cere-Villebon nickel-copper-PGM property, all of which are in the province of Quebec.

We seek Safe Harbor.

https://noblemineralexploration.com/