Noble Mineral Exploration (TSX:V.NOB, Stock Forum), a Toronto-based mineral exploration and evaluation firm, announced today that the company's subsidiary had signed a non-binding letter of intent to acquire a 50% interest in Canna-Saver.LLC, with a right to acquire the remaining 50% upon the completion of certain conditions.
According to the news release, “Canna-Saver.com was the first website in the world to focus solely on cannabis coupons and deals catered to the marijuana demographic that has emerged as a result of marijuana decriminalization and legalization in certain parts of the US and the world. In less than a year, Canna-Saver has exceeded all industry expectations to become one of the most recognized brands in the Cannabis industry.”
The release went on to note, “It is Noble's intention that the subsidiary would become a separate public company with a listing on a Canadian and US stock exchange or market place, and Noble would distribute to its existing shareholders a unit of Noble Subsidiary that would be comprised of one share and 1/4 of a warrant, with each full warrant being exercisable at $0.20 into a share of Noble Subsidiary.”
Company president, Vance White, commented, “We are extremely pleased with this new business relationship as it will provide Noble Mineral Exploration Inc.'s existing shareholders, through the unit distribution, an opportunity to participate in a new industry with what we believe will have very strong growth potential.”