Noble Announces Extension of Private Placement
Toronto, Ontario / TheNewswire / February 4, 2016 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) announces that the deadline for closing its previously announced non-brokered private placement has been extended. As announced by the Company in its news releases of December 7 & 8, 2015, the TSX Venture Exchange (the "TSXV") has authorized a private placement seeking to raise up to Cdn$300,000 through the issuance of up to 30,000,000 common shares at a price of Cdn$0.01 per share. The Company has engaged IBK Capital Corp. to complete the private placement on a best efforts basis.
As previously announced (see Noble's news release of January 18, 2016), the Company has already raised gross proceeds of Cdn$175,000 through the issuance of 17,500,000 common shares at a price of Cdn$0.01 per common share. The TSXV has authorized an extension to February 19, 2016 as the deadline for completing any further closings under the private placement and applying for final approval from the TSXV.
The terms of the private placement were developed by reference to the TSXV Discretionary Waivers of $0.05 Minimum Pricing Requirement Bulletin dated April 7, 2014. Noble obtained conditional approval from the TSXV for this private placement, but it remains subject to final approval from the TSXV. The original deadline for completing the private placement and applying for final approval from the TSXV was February 5, 2016.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 70,641 hectares of mineral rights in the Timmins - Cochrane 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.
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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