Noble Mineral Exploration Inc. (TSXV: NOB) (OTCQB: NLPXF) has secured a final order from the Ontario Superior Court of Justice (Commercial List) approving its previously announced plan of arrangement under the Business Corporations Act (Ontario). The order, issued on May 15, 2026, follows overwhelming shareholder approval at a special meeting held on May 7, 2026.
Under the arrangement, Noble is reorganizing its share capital. Current common shares will be exchanged for new common shares with identical rights and privileges, plus a pro rata portion of approximately 9,000,000 common shares of Homeland Nickel Inc. (Homeland). Each Noble share is expected to entitle its holder to roughly 0.034 of a Homeland share, with the exact distribution ratio to be confirmed on or after the effective date based on the number of Noble shares outstanding at the record time.
The completion of the arrangement is subject to final approval by the TSX Venture Exchange. Noble anticipates the following timeline: the record time for the distribution is set for May 27, 2026, at 12:00 a.m., with the effective date and time immediately following at 12:01 a.m. on the same day. The first trading date for the new Noble common shares under the new CUSIP is expected to be May 29, 2026, subject to confirmation. Investors interested in acquiring Noble shares that will participate in the distribution are encouraged to complete purchases, or exercise warrants or options, by May 22, 2026, to ensure settlement by the record date.
H. Vance White, President and CEO of Noble, emphasized the significance of the distribution: “In keeping with our past practice of allowing our shareholders to participate directly in the progress of companies in which Noble holds shares, we are very pleased to be proceeding with the distribution of 9,000,000 Homeland shares to our shareholders.” Homeland Nickel Inc. is a TSX Venture-listed company focused on critical metals, with ten nickel projects in Oregon, USA, hosting large historical nickel resources, and interests in copper and gold projects in Newfoundland, Canada. Details of Homeland can be found on their website at https://homelandnickel.com/.
Applying Homeland’s most recent closing price, the distribution represents approximately $4 million in value returned to Noble’s shareholders. When factoring in earlier distributions of Canada Nickel Company Inc. (CNC) shares in 2020 and 2022, Noble will have distributed more than $28 million of current value to its shareholders in the form of Homeland and CNC shares. Noble will retain over 10 million Homeland shares after the distribution. White added, “As a company, we will continue to seek other opportunities to distribute to our shareholders significant share blocks of other public companies that Noble has acquired over the years.”
This arrangement marks a strategic move for Noble, which holds securities in Canada Nickel Company Inc., Homeland Nickel Inc., and East Timmins Nickel Inc. (20%), along with its interest in the Holdsworth gold exploration property in Wawa, Ontario. The company also holds mineral and exploration rights across approximately 70,000 hectares in Northern Ontario and 25,000 hectares in Quebec, including Project 81 in the Timmins-Cochrane areas, which hosts diversified drill-ready gold, nickel-cobalt, and base metal targets. Additionally, Noble holds interests in properties in Newfoundland and Labrador, such as the Chapiteau REE property.
The distribution of Homeland shares is expected to provide immediate value to Noble shareholders while allowing the company to maintain a significant stake in Homeland. This approach aligns with Noble’s history of returning value directly to shareholders and may set a precedent for future distributions of its holdings in other public companies.
