Business
Noble Announces Results of 2020 Shareholder Meeting and Provides Update on Definitive Agreements with Canada Nickel
TORONTO - TheNewswire - May 12, 2020 - Noble Mineral Exploration Inc. (TSXV:NOB) ("Noble" or the "Company") (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) is pleased
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"TORONTO - TheNewswire - May 12, 2020 - Noble Mineral Exploration Inc. (TSXV:NOB) (\"Noble\" or the \"Company\") (TSXV:NOB), (FRANKFURT:NB7), (OTC:NLPXF) is pleased to announce the results of its 2020 Annual general and special meeting of shareholders (the \"Meeting\") held on May 5, 2020 and provide an update on its proposed transactions with Canada Nickel Company Inc. (\"Canada Nickel\"). Results of the Meeting At the Meeting, the shareholders: approved the decrease of the number of directors of the Company from seven (7) to six (6) (approved by over 99.9% of votes cast); approved the election of the directors proposed by management of the Company, namely: J. Birks Bovaird, Yvan Champagne, Michael Newbury, Samuel Peralta, H. Vance White and Stephen Balch (each director being elected with over 99.8% of votes cast); confirmed the re-appointment of MNP LLP as the Company's auditor for the upcoming year (approved by over 99.5 % of votes cast); re-approved the Amended and Restated Stock Option Plan of the Company (approved by over 99.6% of votes cast); and approved the proposed property transactions (the \"Property Transactions\") between Canada Nickel and Noble (approved by over 99.8% of votes cast and by over 99.8% of disinterested shareholders). This news release provides an update on the Property Transactions, including terms and conditions for completion. Definitive Agreements with Canada Nickel As announced in news releases issued on March 4 and April 6, 2020, Noble and Canada Nickel entered into a memorandum of agreement (the \"MoA\") whereby Canada Nickel agreed to pay Noble $500,000 in cash, plus issue to Noble 500,000 Canada Nickel common shares, in consideration for acquiring patented properties and mining claims (the \"Crawford Annex\") that are adjacent to the Crawford Township nickel assets that were recently acquired by Canada Nickel from Noble (the \"Core Crawford Property\"), and being granted options to earn up to an 80% interest in five distinct properties within the Project 81 that are comprised of patented properties and mining claims and are located in the following areas (identified by the townships where they are located): Crawford-Nesbitt-Aubin, Nesbitt North, Aubin-Mahaffy, Kingsmill-Aubin, and MacDiarmid (collectively, the \"Option Properties\"). Under the MoA, one of the conditions to the transfer of the ...