Noble Announces Option Grant and Proposed Warrant Extension
(via Thenewswire.ca)
Toronto, Ontario - March 22, 2013, Noble Mineral Exploration Inc. (the "Company", "Noble" or "NOB") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) announces that it has granted a total of 1,550,000 options and is applying to extend the term of issued and outstanding warrants scheduled to expire on April 13, 2013.
Option Grant
The Company has granted 1,550,000 options to purchase common shares of the Company to officers, directors and consultants. Each option is exercisable at a price of $0.10 for a three year term. 1,200,000 of the options were granted to directors and officers of the Company and vest immediately. 50,000 of the options were granted to a consultant providing investor relations services, with one quarter of these options vesting upon grant and the remaining three quarters vesting in three month instalments. The remaining 300,000 options were granted to consultants to the Company and vest immediately.
Warrant Extension
The Company is applying to the TSX Venture Exchange (the "Exchange") to extend the term of issued and outstanding warrants exercisable for a total of 17,647,058 common shares (the "Warrants") that were issued as part of a private placement that closed on April 13, 2011. None of the warrants issued on that date have been exercised. The proposed new expiry date for the Warrants is April 13, 2014.
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 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.
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|Contacts: |? |
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|H. Vance White, President |Investor Relations |
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|Ph.: |416-214-2250 |Ph.: |416-214-2250 |
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|Fax: |416-367-1954 |eMail: |ir@noblemineralexploration.com|
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|eMail: |info@noblemineralexploration.com|? |
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