Noble Mineral Exploration Inc. (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) has closed its previously announced non-brokered private placement, raising gross proceeds of approximately C$1,027,997.94. The company issued 17,133,299 flow-through common share units at a price of C$0.06 per unit, with each unit consisting of one flow-through common share and one-half of a non-flow-through common share purchase warrant. Each full warrant is exercisable at C$0.10 per share for a period of two years. In connection with the placement, Noble paid aggregate cash commissions of approximately C$43,050 and issued 647,497 broker warrants, each exercisable at C$0.06 per share for two years. The securities are subject to a four-month hold period.
The private placement received conditional approval from the TSX Venture Exchange and remains subject to final approval. Proceeds will be used to fund exploration expenditures on the company’s properties located in Ontario.
Additionally, Noble has extended the term of 7,933,333 common share purchase warrants issued in 2022 and 2023. The extended warrants now expire in November 2027 and December 2027, following final approval from the TSX Venture Exchange. The company will notify warrant holders but will not issue replacement certificates unless requested.
Noble Mineral Exploration Inc. is a Canadian junior exploration company with holdings in several companies and mineral rights covering approximately 70,000 hectares in Northern Ontario and 24,000 hectares in Quebec. The company’s flagship Project 81 in the Timmins-Cochrane areas hosts drill-ready gold, nickel-cobalt, and base metal targets. Other properties include the Nagagami Carbonatite Complex, Boulder Project, Buckingham Graphite Property, Havre St Pierre Nickel-Copper-PGM property, and several rare earth element properties in Quebec.
For more information, visit the company’s website at https://www.noblemineralexploration.com.
