Tickers: PINX:NLPXF, XTSX:NOB, FRAA:NB7
Toronto, Ontario - TheNewswire - May 26, 2020 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) announces closing of a non-brokered private placement (the "Private Placement"). Noble raised gross proceeds of $150,000 through the issuance of 1,500,000 flow-through common share units ("FT Units") at $0.10 per unit. Each FT Unit is comprised of one common share and one common share purchase warrant which entitles the holder to acquire one common share of Noble at an exercise price of $0.10 per share, for a period of three years following the closing. The Company is paying a cash commission of 7% of the amount raised (i.e. $10,500) to a broker that provided assistance with the Private Placement. Noble intends to use the proceeds raised through the Private Placement to fund exploration expenditures.
The securities issued in this Private Placement are subject to a four month hold period. The closing proceeded after conditional approval of the Private Placement was granted by the TSX Venture Exchange (the "Exchange"), and remains subject to final approval of the Exchange, as well as any other required regulatory approvals.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. More detailed information is available on the website at www.noblemineralexploration.com .
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
H. Vance White, President
Phone: 416-214 2250
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