NIR Noble Iron Inc

Noble Iron Inc. ("Noble Iron" or the "Company") (TSX VENTURE:NIR) announced its
unaudited interim financial results for the quarter ending March 31, 2013 and
additional debt financing.




--  Total revenue in Q1 2013 was $4.5 million, compared to $4.0 million in
    Q1 2012 
--  Total adjusted EBITDA in Q1 2013 was $0.3 million, compared to $0.5
    million in Q1 2012 
--  The Company closed a $15.0 million revolving credit facility for its
    Texas operations



Rental revenue from the equipment rental and distribution segment increased by
44% compared to Q1 2012. Adjusted EBITDA in the equipment rental and
distribution segment increased 78% compared to Q1 2012. Total net loss for the
period of Q1 2013 was $1.3 million, compared to a net loss of $0.4 million in Q1
2012.


The terms of the $15.0 million financing facility for Noble Iron's Texas
operations include a revolving line of credit and a variable interest rate
equivalent to one-month LIBOR plus 275 basis points; approximately 3.00% at
closing. Previous financing arrangements for the Company's Texas operations
included a number of debt facilities charging interest rates ranging from 5.8%
to 7.0%. The new facility includes a cash sweep against outstanding debt, and no
scheduled principal payments are due during the four year term of the loan. The
facility allows the Company to draw up to $15.0 million, based upon a borrowing
base determined by the value of equipment fleet, accounts receivable and
inventory. A total of $5.4 million was funded at closing, and $9.6 million
remains available to draw by the Company subject to borrowing base availability.


"We are excited with the progress of the Noble Iron model and its development.
Our year-over-year revenue growth of 44% within the Company's equipment rental
and distribution segment demonstrates our team's commitment to providing our
customers quality equipment and hassle-free service at the lowest price," said
Willie Swisher, CEO of the Company. 


Nabil Kassam, Executive Chairman of Noble Iron commented, "the new debt
financing will provide Noble Iron with significant growth capacity at our Texas
CELL. We are pleased to continue working with our lending partner, Regions Bank,
and look forward to pursuing additional expansion opportunities." 


Financial information indicated, as set out in this news release, is presented
on a basis consistent with the accounting principles used to prepare Noble
Iron's most recently filed financial statements. The consolidated financial
statements are prepared by management in accordance with International Financial
Reporting Standards, as issued by the International Accounting Standards Board.
Readers are advised that the Company faces various risk factors with respect to
its business and operations: for further information please see the Management
Discussion and Analysis of Noble Iron Inc. at www.SEDAR.com.


About Noble Iron Inc. (TSX VENTURE:NIR)

Noble Iron Inc. operates in three complementary sectors: equipment rental,
equipment dealership, and enterprise asset management software for the
construction and industrial equipment industry.


The Company operates its equipment rental business and dealerships under the
name "Noble Iron". Noble Iron rental depots, or CELLs, currently serve customers
in California and Texas. A noble Iron offer select manufacturer equipment and
accessories for sale, and is the exclusive distributor of LiuGong Construction
Machinery equipment in Southeast Texas.


The Company's software division, Texada Software, develops software applications
to manage the complete equipment ownership lifecycle, from acquisition, rental,
sales and other activities, through to disposal. Texada offers in-the-cloud or
client-based software, and is scalable to meet the needs of any customer.


The Company can be reached at 1-832-767-4424, or at www.nobleiron.com.

Non-IFRS Measures 

References in this press release to Adjusted EBITDA are to earnings before
interest expense, deferred income taxes, depreciation, amortization, share based
compensation, gain on fair value increment on acquisition (net of deferred
income taxes), acquisition expenses, accretion on convertible debt, interest on
convertible debentures and foreign exchange. Adjusted EBITDA is a measure used
by investors to compare issuers on the basis of ability to generate cash flow
from operations. Adjusted EBITDA is not an earnings measure recognized by
International Financial Reporting Standards (IFRS), does not have standardized
meanings prescribed by IFRS and is therefore unlikely to be comparable to
similar measures presented by other issuers. Noble Iron's management believes
that Adjusted EBITDA is an important supplemental measure in evaluating Noble
Iron's performance and in determining whether to invest in its common shares.
Readers of this information are cautioned that Adjusted EBITDA should not be
construed as an alternative to net income or loss determined in accordance with
IFRS as an indicator of Noble Iron's performance, or cash flows from operating,
investing and financing activities as measures of Noble Iron's liquidity and
cash flows. Noble Iron's method of calculating Adjusted EBITDA may differ from
the methods used by other issuers and, accordingly, Noble Iron's Adjusted EBITDA
may not be comparable to similar measures presented by other issuers.


This news release may contain forward-looking statements which reflect the
Company's current expectations regarding future events. The forward-looking
statements are often, but not always, identified by the use of words such as
"seek", "anticipate", "plan", "estimate", "expect", "intend" and statements that
an event or result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. These forward-looking statements involve
risk and uncertainties, including the difficulty in predicting acceptance of and
demands for new products, the impact of the products and pricing strategies of
competitors, delays in developing and launching new products, fluctuations in
operating results and other risks, any of which could cause results,
performance, or achievements to differ materially from the results discussed or
implied in the forward-looking statements. Many risks are inherent in the
industries in which the Company participates; others are more specific to the
Company. The Company's ongoing quarterly filings should be consulted for
additional information on risks and uncertainties relating to these
forward-looking statements. Investors should not place undue reliance on any
forward-looking statements. Management assumes no obligation to update or alter
any forward-looking statements whether as a result of new information, further
events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Noble Iron Inc.
Thomas Caldaroni
Chief Financial Officer
(832) 767-4424 Ext. 207
thomas.caldaroni@nobleiron.com
www.nobleiron.com

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