(via Thenewswire.ca)
Toronto, Ontario / TheNewswire / February 19, 2016 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) announces that it has closed a second and final tranche of its previously announced non-brokered private placement. (See Noble's news releases of December 7 & 8, 2015, and February 4, 2016). At this closing, the Company raised gross proceeds of Cdn$17,500 through issuance of 1,750,000 common shares at a price of Cdn$0.01 per common share. In connection with the second tranche of the private placement, the Company paid a cash commission of 9% on $5,000 of the amount raised and issued 50,000 compensation warrants exercisable for five years, each warrant exercisable at $0.05 per share. The common shares and compensation warrants issued are subject to a hold period expiring June 20, 2016.
As previously announced (see Noble's news release of January 18, 2016), the Company has already closed a first tranche of the private placement raising gross proceeds of Cdn$175,000 through the issuance of 17,500,000 common shares at a price of Cdn$0.01 per common share. A total of $192,500 was raised in both closings of this private placement.
The terms of the private placement were developed by reference to the TSX Venture Exchange's Discretionary Waivers of $0.05 Minimum Pricing Requirement Bulletin dated April 7, 2014. Noble obtained conditional approval from the TSXV for this private placement, but it remains subject to final approval from the TSXV.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 70,641 hectares of mineral rights in the Timmins - Cochrane 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:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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