Noble Announces Plan to Distribute Shares of Homeland Nickel Inc. by Plan of Arrangement; Calls Special Shareholder Meeting for May 7, 2026

Executive Summary

• Noble Mineral Exploration’s Board approved a plan of arrangement to distribute up to 9,000,000 shares of Homeland Nickel Inc. to Noble shareholders.
• A special shareholder meeting is scheduled for May 7 2026 (record date March 27 2026) to obtain the required supra‑majority approval; court approval is also needed.
• The distribution is expected to return at least ≈ $3.735 million in value to Noble shareholders, bringing total historic distributions (including prior CNC share distributions) to > $28 million.

Key Details

• Plan of Arrangement: Reorganizes Noble’s capital structure; existing Noble shares will be replaced 1‑for‑1 with new TSX‑V listed Noble shares and a pro‑rata portion of Homeland Nickel shares.
• Distribution Mechanics: Up to 9,000,000 Homeland shares will be allocated on a pro‑rata basis; fractional shares are rounded down, so the final number may be less than 9 M. No cash or fractional share payments will be made except for dissent rights.
• Shareholder Approval: Special meeting – May 7 2026; record date – March 27 2026. Approval requires supra‑majority vote and subsequent court sanction.
• Tax Considerations: Completion may qualify as a return of capital, but final tax treatment will depend on market value at distribution time; shareholders advised to consult personal tax advisors.
• Warrants/Options Impact: Outstanding warrants and options could increase Noble’s share count prior to the distribution, affecting the allocation ratio.
• Value Estimate: Using Homeland’s latest TSX‑V closing price, the distribution represents a minimum of ≈ $3.735 million in value to Noble shareholders. Combined with earlier CNC share distributions (2020 & 2022), total distributed value exceeds $28 million.
• Post‑Distribution Holdings: Noble will retain > 10 million Homeland shares after the distribution, providing a basis for future shareholder return opportunities.
• President/CEO Quote: H. Vance White highlighted the strategic intent to empower shareholders and noted Homeland’s portfolio of ten nickel projects in Oregon plus copper and gold assets in Newfoundland.

Notable Quotes

“In keeping with our past practice of empowering our shareholders to participate directly in the progress of companies in which Noble holds shares, we are very pleased to provide our shareholders the opportunity to participate in the pro rata distribution of 9,000,000 Homeland shares through the proposed plan of arrangement.” – H. Vance White, President & CEO, Noble Mineral Exploration Inc.