Noble Iron Announces Return of Capital Distribution Dates

About this update from Noble Iron, Inc.

[{"type":"text","content":"Noble Iron Announces Return of Capital Distribution DatesToronto, Ontario--(Newsfile Corp. - July 24, 2023) - Noble Iron Inc. (TSXV: NIR.H) (\"Noble Iron\", or the \"Company\"), further to its press release of July 12, 2023, is pleased to announce the dates for a distribution of approximately $8,180,243.70, or $0.30 per share, to its shareholders by way of return of capital (the \"Distribution\"). The record date for the Distribution will be August 1, 2023 and the payment date will be August 8, 2023. The return of capital is expected to be generally more tax advantageous to shareholders than a dividend. The distribution to shareholders will be made in accordance with the \"due bill\" trading procedures mandated by the TSX Venture Exchange (the \"TSXV\") for large dividends and distributions. The purpose is to result in traded shares carrying the value of the $0.30 Distribution until it is paid.A due bill will notionally represent the $0.30 distribution that a holder of a Noble Iron share is entitled to receive. A due bill will attach to each share traded, from the trading day before the record date for the distribution until the date on which the distribution is paid. During this due bill trading period, the shares will trade on a \"due bills basis\". A seller of shares (who is prospectively entitled to the $0.30 distribution) will also sell to the purchaser the entitlement to the distribution (which is represented by the due bill attached to each share sold). Key dates are:The record date to determine shareholders entitled to receive the distribution will be August 1, 2023;Due bill trading will commence on July 31, 2023 (one trading day before the record date, so that trades settling after the record date have due bills attached);The payment date for the distribution will be August 8, 2023;The ex-distribution date will be August 9, 2023 (the trading day after the payment date, so that trades on and after that date will not have due bills attached); andThe redemption date used by CDS will be August 10, 2023. All of the foregoing dates are subject to the approval of the TSXV.The aggregate amount of the return of capital will be approximately $8,180,243.70. It will be funded from the Company's cash reserves. The Distribution is being made in connection with the voluntary winding up (the \"Winding Up\") of the Corporation (please s...

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