Nobel Resources closes $250,000 private placement

Executive Summary

• Nobel Resources Corp. has closed a fully subscribed non-brokered private placement offering of 4,166,667 units at $0.06 per unit, raising $250,000 in gross proceeds.
• The company simultaneously issued 3.2 million stock options to officers and directors and 750,000 restricted share units (RSUs) to directors and officers.
• Net proceeds will be utilized for exploration of Chilean mineral properties and general corporate working capital.

Key Details

• Financing Structure: Non-brokered private placement, fully subscribed.
• Units Issued: 4,166,667 units.
• Price: $0.06 per unit.
• Gross Proceeds: $250,000.
• Warrant Terms (Units): Each unit includes one common share and one-half of one common share purchase warrant.
• Warrant Exercise Price: $0.075 per share.
• Warrant Expiration: January 29, 2028.
• Hold Period: Statutory hold period of four months and one day.
• Use of Proceeds: Exploration of Chilean mineral properties, general corporate purposes, and working capital.
• Finder’s Fees: $6,300 paid in cash.
• Finder’s Warrants: 105,000 warrants issued to eligible finders.
• Finder’s Warrant Terms: Exercisable at $0.06 per share for 24 months.
• Stock Options: 3.2 million options issued to certain officers and directors.
• Option Exercise Price: $0.15 per share.
• Option Term: Three years from the date of grant.
• Restricted Share Units (RSUs): 750,000 RSUs issued to certain directors and officers.
• RSU Vesting: Annual equal installments over a three-year period, beginning on the one-year anniversary of the grant date.
• Regulatory Status: Offering subject to final approval of the TSX Venture Exchange; options and RSUs subject to TSX Venture Exchange approval.