Toronto, Ontario / TheNewswire / September 1, 2017 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) announces the closing of the first tranche of its previously announced (see news release dated August 25, 2017) private placement (the "Private Placement") by issuing 13,783,330 common share units ("Common Share Units") at $0.06 per Common Share Unit. The aggregate gross proceeds raised in this Private Placement amount to $827,000.
Each Common Share Unit consists of one common share of Noble and one common share purchase warrant. Each such common share purchase warrant (a "Warrant") entitles the holder to acquire one common share of Noble at an exercise price of $0.10 per share for a period of 5 years following the closing.
In connection with the Private Placement, the Company paid a cash commission of $17,999.99 and issued 333,333 broker warrants exercisable at $0.06 per unit, each such broker warrant entitling the holder to acquire one common share of Noble and a Warrant exercisable at $0.10 per share for a period of 5 years following the closing.
The securities issued in this Private Placement are subject to a hold period of four months and one day.
The closing of the Private Placement is subject to the approval of the TSX Venture Exchange, as well as other required regulatory approvals.
Noble will use the proceeds of the Private Placement to continue its exploration activities, to pay debts and for general working capital purposes.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company which, apart from 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.
