Noble Announces Extension and Re-pricing of Warrants
March 31 2014 - 8:28PM
Access Wire
Toronto, Ontario / ACCESSWIRE / March 31, 2014
/ Noble Mineral Exploration Inc. (the
"Company", "Noble" or "NOB") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF)
announces that it has
applied to the TSX Venture Exchange
(the "Exchange") for a two-year
extension to the term of issued and outstanding warrants that had
been scheduled to expire on April 13, 2014 (the "Warrants") and for a re-pricing
of the exercise price of the Warrants which is currently $0.20 per
share. The proposed new expiry date for the Warrants would be April
13, 2016. The proposed new exercise price of the Warrants would be
$0.05 per share. In addition, if for any ten consecutive trading
days, the closing price for Noble's common shares is at least
$0.065 per share, then the expiration date of the Warrants will be
accelerated so that the Warrants will expire 30 days
later.
The Warrants to purchase 17,647,058
common shares were issued as part of a private placement that
closed on April 13, 2011. Gross proceeds of approximately
$1,500,000 were raised in that private placement. Since issuance,
none of the Warrants have been exercised and all of the Warrants
are outstanding.
About Noble
Mineral Exploration Inc.:
Noble Mineral Exploration Inc.
is a Canadian based junior exploration company holding in excess of
72,000 hectares of property in the Timmins, Iroquois Falls and
Smooth Rock Falls areas of Northern Ontario. The Company also holds
a portfolio of diversified exploration projects at various stages
of exploration Gold in the Wawa area of Northern Ontario, and
Uranium in Northern Saskatchewan. More detailed
information is available on the website at www.noblemineralexploration.com
Cautionary
Statement:
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
The
foregoing information may contain forward-looking statements
relating to the future performance of Noble Mineral Exploration
Inc. Forward-looking statements, specifically those concerning
future performance, are subject to certain risks and uncertainties,
and actual results may differ materially from the Company's plans
and expectations. These plans, expectations, risks and
uncertainties are detailed herein and from time to
time in the filings made by the Company with the TSX Venture
Exchange and securities regulators. Noble Mineral Exploration Inc.
does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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