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FAQ: Noble Mineral's Private Placement Closing and Warrant Extension
TL;DR
Noble Mineral raised over $1 million through a private placement, providing capital advantage for aggressive exploration of its Ontario mineral properties.
Noble issued 17.1 million flow-through shares at $0.06 each with attached warrants and extended 7.9 million existing warrants to 2027 following TSX Venture Exchange approval.
This funding enables responsible mineral exploration in Ontario, supporting local economic development and sustainable resource discovery for future generations.
Noble Mineral now controls exploration rights across nearly 100,000 hectares in Ontario and Quebec, including diverse gold, nickel and rare earth element targets.
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Noble Mineral Exploration Inc. has closed its non-brokered private placement and extended the term of existing warrants from previous private placements in 2022 and 2023.
Noble raised gross proceeds of approximately $1,027,997.94 (before fees and expenses) through the issuance of 17,133,299 flow-through common share units at $0.06 per unit.
Each FT Unit consists of one flow-through common share and one-half non-flow-through common share purchase warrant, with each full warrant exercisable for two years at $0.10 per share.
The proceeds will be used to fund exploration expenditures on the Company's properties located in Ontario.
Noble extended the term of 7,933,333 common share purchase warrants from previous 2022 and 2023 private placements, with the Extended Warrants now expiring in November 2027 and December 2027.
The private placement received conditional approval from the TSX Venture Exchange and remains subject to final approval, while the warrant extension has received final Exchange approval.
Yes, all securities issued in the private placement are subject to a four-month hold period.
Holders will be notified of the extension but do not need replacement certificates unless requested; original certificates must be presented to exercise the Extended Warrants.
Noble paid approximately $43,050 in cash commissions and issued 647,497 broker warrants exercisable at $0.06 per share for two years.
Noble holds mineral and exploration rights in approximately 70,000 hectares in Northern Ontario and additional properties in Quebec, Timmins-Cochrane areas, and Central Newfoundland, with Project 81 hosting diversified exploration targets.
Curated from NewMediaWire
