Business
Noble Mineral Exploration Inc. Announces Non-Brokered Private Placement
Toronto, Ontario - TheNewswire - February 3, 2020 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) is pleased
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Toronto, Ontario - TheNewswire - February 3, 2020 - Noble Mineral Exploration Inc. (\"Noble\" or the \"Company\") (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) is pleased to announce that it is undertaking a non-brokered private placement (the \"Private Placement\") on a best efforts basis involving the issuance of 5,000,000 hard dollar Common Share Units (\"HD Units\") or flow through Common Share Units (\"FT Units\"), subject to increase of up to 25% at the discretion of Noble should investor interest warrant doing so. The gross proceeds to be raised in this Private Placement would be up to $400,000 if fully completed as HD Units, up to $600,000 if fully completed as FT Units, subject to increase as noted. The Offering Price is $0.08 per HD Unit and $0.12 per FT Unit. The Company may pay a cash commission of up to 7% of the amount raised to those providing assistance with the Private Placement, together with the issuance of broker warrants for 10% of the number of Units placed. Each HD Unit and each FT Unit would consist of one common share and one half of one common share purchase warrant. Each such full common share purchase warrant (a \"Warrant\") would allow the holder to acquire one common share of Noble at an exercise price of $0.12 per share, for a period of two (2) years following the closing. As previously announced, the shareholders of Noble have approved an arrangement pursuant to which up to 10 million common shares of Canada Nickel Company Inc. (\"Canada Nickel\") are to be distributed to Noble's shareholders. (For further details, see Noble's Management Information Circular dated November 29, 2019 as filed on SEDAR on December 6, 2019 under Noble's profile.) For any common shares of Noble issued pursuant to closing(s) of this Private Placement that occur prior to the effective date of that Arrangement, the holder of those shares will be entitled to receive a portion of the shares of Canada Nickel to be distributed on the same basis, and to the same extent, as other shareholders of Noble at that time. The shares of Canada Nickel so received by investors in this Private Placement will be subject to any hold period(s) required under securities laws or TSX Venture Exchange policies, which may include a four (4) month hold. The closing is scheduled for February 7, 2020 (or such later date as required), with the Corporation h...