Noble Mineral arranges $1.05-million private placement

Executive Summary

• Noble Mineral Exploration Inc. announced a non-brokered private placement on a best-efforts basis to raise up to $1.05 million in gross proceeds.
• The company will issue up to 7 million flow-through common share units at a price of $0.15 per unit, with an option to increase the size by up to 25%.
• Proceeds are intended to finance exploration expenditures for critical minerals on the company's properties.

Key Details

• Transaction Structure: Non-brokered private placement on a best-efforts basis.
• Units Issued: Up to 7,000,000 flow-through (FT) common share units.
• Price: $0.15 per unit.
• Upsize Option: The company has discretion to increase the issuance by up to 25%.
• Gross Proceeds: Up to $1,050,000 (before fees and expenses), subject to the upsize option.
• Unit Composition: Each FT unit consists of:
  • One common share to be issued as a flow-through share.
  • One-half non-flow-through common share purchase warrant.
• Warrant Terms: Each full warrant is exercisable for two years at an exercise price of $0.20 per common share.
• Hold Period: Securities are subject to a four-month hold period.
• Closing Conditions: Subject to customary conditions, including approval by the Board of Directors and the TSX Venture Exchange.
• Use of Proceeds: To finance exploration expenditures for critical minerals on the company's properties.

Notable Quotes

• None provided in the text.