Nobel Resources closes $2.5-million financing

Executive Summary

• Nobel Resources Corp. has closed the second and final tranche of its previously announced Listed Issuer Financing Exemption (LIFE) offering, issuing 4.25 million units for $212,500.
• The LIFE offering is now fully subscribed, with a total of 50 million units issued for aggregate gross proceeds of $2.5 million.
• Net proceeds will be utilized for exploration work on Chilean mineral properties and general corporate/working capital purposes.

Key Details

• Tranche 2 Details:
  • Units Issued: 4.25 million
  • Price Per Unit: $0.05
  • Gross Proceeds (Tranche 2): $212,500
• Total Offering Details:
  • Total Units Issued: 50 million
  • Total Gross Proceeds: $2.5 million
  • Status: Fully subscribed
• Security Structure:
  • Each unit consists of one common share and one-half of one common share purchase warrant.
  • Warrant Exercise Price: $0.06 per share.
  • Warrant Term: 24 months from the date of the release.
  • Warrant Lock-up: Not exercisable until 70 days after the date of the release.
• Agent Compensation:
  • Lead Agent/Bookrunner: iA Private Wealth Inc.
  • Syndicate Agents: Velocity Trade Capital Ltd. and Haywood Securities Inc.
  • Cash Fee Paid to Agents: $14,875.
  • Broker Warrants Issued: 297,500 non-transferable warrants.
  • Broker Warrant Exercise Price: $0.05 per share.
  • Broker Warrant Term: 24 months.
• Regulatory Status:
  • Shares and warrants are not subject to a statutory hold period under Canadian securities laws (LIFE exemption).
  • Subject to final approval of the TSX Venture Exchange.
• Use of Proceeds:
  • Continued exploration of Chilean mineral properties.
  • General corporate and working capital purposes.

Notable Quotes

• "Nobel is pleased to report that the nominees listed in the management proxy circular... were elected as directors of the company. Shareholders at the meeting also approved the appointment of the company's auditor and the company's stock option plan."