Noble Announces Brokered Private Placement
(via Thenewswire.ca)
Toronto, Ontario - April 18, 2013, Noble Mineral Exploration Inc. (the
"Company", "Noble" or "NOB") (TSX-V:NOB,
FRANKFURT:NB7, OTC.PK:NLPXF) is pleased to announce that it has
engaged IBK Capital Corp. to complete a brokered private placement
(the "Private Placement").
The proposed Private Placement would raise up to $150,000 through the
issuance of 3,000,000 common share units (the "Units") at a
price of $0.05 per unit. Proceeds will be used for working capital
purposes.
Each Unit sold will consist of one common share of the Company and one
common share purchase warrant. Each warrant will allow its holder to
acquire one common share of the Company for a period of two years (at
an exercise price of $0.10 during the first year and $0.15 during the
second year).
For this private placement, the Company has agreed to pay a cash
commission of $10,500 (representing 7% of the funds raised) and to
issue a total of 300,000 broker warrants (corresponding to 10% of the
Units placed). Each broker warrant will be exercisable for one common
share of the Company at a price of $0.05 for two years after the
closing date.
The Private Placement is subject to the approval of the TSX Venture
Exchange. All securities issued in the Private Placement will be
subject to a four-month hold period from the closing date.
Related Party Transaction
Certain of the parties proposing to invest in the Private Placement
are "related parties" to the Company within the meaning of
that term in Multilateral Instrument 61-101 - Protection of Minority
Security Holders in Special Transactions ("MI 61-101"). For
more information, please refer to the material change report to be
filed in connection with the closing of the Private Placement.
While a material change report is not being filed 21 days prior to the
closing of the private placement, the Company considers this to be
reasonable because the Units to be sold would be sold at a price that
is higher than the current market price, and in order for the closing
to occur with all parties contemporaneously on identical terms.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian based junior exploration
company holding in excess of 72,000 hectares of property in the
Timmins, Iroquois Falls and Smooth Rock Falls areas of Northern
Ontario. The Company also holds a portfolio of diversified
exploration projects at various stages of exploration Gold in the Wawa
area of Northern Ontario, and Uranium in Northern Saskatchewan.
More detailed information is available on the website at
www.noblemineralexploration.com
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements
relating to the future performance of Noble Mineral Exploration Inc.
Forward-looking statements, specifically those concerning future
performance, are subject to certain risks and uncertainties, and
actual results may differ materially from the Company's plans and
expectations. These plans, expectations, risks and uncertainties are
detailed herein and from time to time in the filings made by the
Company with the TSX Venture Exchange and securities regulators.
Noble Mineral Exploration Inc. does not assume any obligation to
update or revise its forward-looking statements, whether as a result
of new information, future events or otherwise.
Contacts:
Noble Mineral Exploration Inc.
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
eMail:info@noblemineralexploration.com
Investor Relations
Phone: 416-214-2250
eMail: ir@noblemineralexploration.com
Copyright (c) 2013 TheNewswire - All rights reserved.