Business
Noble Closes Nickel Property Sale and Receives 3.5 Million Shares of Canada Nickel
(TheNewswire) Toronto, Ontario - TheNewswire - December 20, 2021 ...
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Noble Closes Nickel Property Sale and Receives 3.5 Million Shares of Canada Nickel\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Toronto, Ontario -\n \n \n TheNewswire -\n \n \n December 20, 2021 - Noble Mineral\nExploration Inc.\n \n \n (\n \n \n “Noble” or the\n“Company”\n \n \n ) (TSXV:NOB\n \n \n )\n(\n \n \n FRANKFURT:NB7\n \n \n )\n(\n \n \n OTC:NLPXF) is pleased to announce that it has\nclosed the transaction with\n \n \n Canada Nickel\nCompany Inc. (“Canada Nickel”) to\n \n \n vend the\nproperties previously optioned to the Canada Nickel (the\n\"Transaction\"), plus additional properties held by Noble.\nUnder the terms of the Transaction,\n \n \n \n \n the previous option and joint\nventure agreements therefore terminated.  In the Transaction, Noble\nsold\n \n \n 100% of the subject properties in return\nfor 3.5 million common shares of Canada Nickel.  Noble intends to\ndistribute those shares to its shareholders as a dividend based on a\nrecord date to be established post closing, after the 4 month hold\nperiod on those shares has expired.  Noble has retained a 2% royalty\non certain of the mining claims that are included in the properties\nbeing transferred.\n \n \n \n \n Vance White, President and CEO of Noble said,\n“\n \n \n This acquisition\neffectively consolidates all of the key nickel targets within\nNoble’s Project 81 land package with Canada Nickel led by Mark Selby\nand his team well recognized to be experts in the Nickel industry. It\nwill allow Noble to focus on the multiple gold/VMS targets in its\nremaining substantial land package. The dividend of 3.5 million\nshares to Noble’s shareholders (valuation ~$12.25mm) will provide\nthem with a direct interest in not only the option properties, but\nalso the Main Crawford Nickel deposit on which we expect to see\nadditional drill hole results and a Feasibility Study in 2022. Noble\nwill retain a 2% NSR (subject to buyback terms) on each of the staked\nmining claims in each of Mahaffy, MacDiarmid and Bradburn Townships\nfrom which we expect to see drilling results in early 2022. Further,\nthis transaction will eliminate the need for Noble carry out any\ndownstream financing in order to maintain a Joint Venture interest in\nthe prospects.”\n \n \n \n \n Transactio...