Noble Announces Private Placement of up to 12,000,000 Units
(via Thenewswire.ca)
Toronto, Ontario - December 10, 2012, Noble Mineral Exploration Inc. (the "Company" or "Noble") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) is pleased to announce that it has engaged IBK Capital Corp. ("IBK") to complete a brokered private placement (the "Private Placement") on a best efforts basis.
The proposed Private Placement will consist of the issuance of up to 12,000,000 common share units (the "Units") at a price of at a price of $0.05 per unit for gross proceeds of up to $600,000. Proceeds will be used for working capital purposes.
Each Unit sold will consist of one common share of the Company and one half of one common share purchase warrant. Each full warrant will be exercisable for one common share of the Company at a price of $0.10 per share for two years after the closing date. The Company anticipates closing this private placement by the end of December.
For this private placement, the Company has agreed to pay a finder's fee of up to 7% of the funds raised, plus issue a number of broker warrants equal 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 connection with this placement will be subject to a four-month hold period from the closing date.
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 and drilling for, Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan.
Randy Singh P.Geo (ON), P.Eng (ON) VP- Exploration & Project Development a "qualified person" as such term defined by National Instrument 43-101 has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the Company.
More detailed information is available on the website at www.noblemineralexploration.com
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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