Noble Mineral Secures Over $1 Million in Private Placement Funding for Ontario Exploration
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 completed its non-brokered private placement, raising gross proceeds of approximately $1,027,997.94 through the issuance of 17,133,299 flow-through common share units at $0.06 per unit. The private placement involved the issuance of FT Units, each comprising 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 company issued a total of 17,133,299 FT Shares and 8,566,649 warrants through this financing arrangement. In connection with the private placement, Noble paid aggregate cash commissions of approximately $43,050 and issued 647,497 broker warrants, each exercisable for two years at $0.06 per share. All securities issued remain subject to a four-month hold period following the closing, which proceeded after conditional approval from the TSX Venture Exchange and remains subject to final regulatory approvals.
Noble intends to allocate the proceeds from the private placement toward exploration expenditures on the company's properties located in Ontario. This funding injection comes at a critical time for mineral exploration companies seeking to advance their projects amid growing demand for critical minerals. The flow-through share structure provides tax advantages to Canadian investors while enabling the company to direct more capital toward exploration activities.
Concurrently, Noble has extended the term of 7,933,333 common share purchase warrants originally issued as part of private placements completed in 2022 and 2023. The Extended Warrants now have expiration dates in November 2027 and December 2027, providing warrant holders with additional time to exercise their purchase rights. The company received final approval from the TSX Venture Exchange for this warrant extension and will notify all affected warrant holders, though replacement certificates will only be issued upon request.
The combination of successful fundraising and warrant extension demonstrates Noble's strategic approach to capital management during a period of increased exploration activity. The additional capital will support the company's extensive mineral rights portfolio, which includes significant holdings across Northern Ontario and Quebec. For more detailed information about the company's operations and properties, investors can visit https://www.noblemineralexploration.com.
This financial development positions Noble to accelerate exploration programs across its diverse property portfolio, particularly focusing on gold, nickel-cobalt, and base metal targets at various stages of development. The successful completion of this financing during current market conditions reflects investor confidence in the company's exploration strategy and the potential of its mineral assets in Ontario's established mining regions.
Curated from NewMediaWire
