Noble Mineral receives conditional OK for financing

Aug 14, 2018

2018-08-14 10:20 ET – News Release

Mr. Vance White reports

NOBLE RECEIVES CONDITIONAL APPROVAL OF PRIVATE PLACEMENT

Noble Mineral Exploration Inc. has received conditional approval from the TSX Venture Exchange for the non-brokered private placement announced on Aug. 1, 2018. The proposed private placement would involve raising up to $1-million through the issuance of up to 16,666,667 common share units priced at six cents per common share unit. Each common share unit issued in the private placement will consist 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.

The company may pay a cash commission of up to 2 per cent of the amount raised to those providing assistance with the private placement, together with the issuance of broker warrants for 2 per cent of the number of common share units issued. Each 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 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 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 Canadian-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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