(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
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