(TheNewswire)
January 9, 2019 / TheNewswire / Toronto, Ontario
– Noble Mineral Exploration Inc. (“Noble” or the
“Company”) (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) advises that a
cease trade order has been issued against the Company as a result of the Company’s delay in filing of its audited annual financial
statements for the year ended August 31, 2018 (“Financial Statements”), the related
management’s discussion and analysis of those financial statements (“MD&A”) and related
filings, which were due on December 31, 2018.
As previously announced, on December 27, 2018 the Company’s new auditors, MNP LLP, advised the Company of their
recommendation that Noble should restate certain items in the financial statements that are due to be filed. Shareholders and
investors should refer to the Company’s news release of December 31, 2018 for further details.
Management of the Company is now working with the Company’s current auditor, and will coordinate with the
former auditor as necessary, to complete those adjustments and have the audit completed.
In an effort to avoid the imposition of a full cease trade order, Noble applied to the Ontario Securities
Commission (the “OSC”), its principal regulator, for the issuance of a management cease trade
order (“MCTO”) prohibiting trading in securities of Noble by the Chief Executive Officer,
Chief Financial Officer, and, potentially, members of the board of directors of Noble. However, the application was denied.
Noble has been advised that the OSC would not grant the MCTO because the application was not submitted at least 14 days prior
to the filing deadline. As the Company had not been advised by its auditor of the requested adjustments to its financial
statements until four days before the filing deadline, it was therefore not possible for Noble to make the MCTO application by the
OSC’s deadline.
“We are very disappointed with this delay and share in our shareholders’ frustration at the imposition of a
cease trade order. This has been particularly frustrating because, had we been advised by our auditor of the requested
restatements at an earlier date, management could have completed those adjustments and, if necessary, applied for the MCTO before
the OSC’s deadline for considering it. However, we remain very confident that our audited statements and related filings will
be made in a timely manner in the very near term, which should lead to the revocation of the cease trade order shortly thereafter.
In the meantime, the Company continues with its ongoing efforts to deploy exploration activities on its Project 81, including
its strategy to involve interested parties to earn into various areas in Project 81 through the funding and conduct of
exploration”, said H. Vance White, President and CEO of Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its
shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Holdsworth gold exploration property in the area of Wawa,
Ontario, holds in excess of 70,641 hectares of mineral rights in the
Timmins - Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold 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”. This news
release has been authorized by Robert Suttie, the Company’s Chief Financial Officer, and by its audit committee.
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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