Noble Announces Shares for Debt Settlement
June 17 2014 - 3:29PM
Access Wire
Toronto, ON / ACCESSWIRE / June 17, 2014 / Noble Mineral Exploration Inc. (the
"Company", "Noble" or "NOB") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF)
announces that it proposing
to enter into shares-for-debt agreements (the "Agreements") with fifteen creditors (the "Creditors").
Pursuant
to the Agreements, and subject to TSX Venture Exchange approval and
Board of Directors approval, the Company would issue to the
Creditors an aggregate of 5,513,008 common shares in the capital of
the Company ("Shares") at a deemed price of $0.05 per Share. The total
amount of indebtedness to be settled by the Agreements is
$275,650.42. The Company is proposing to settle this outstanding
indebtedness with Shares in order to preserve its cash for
operations.
About Noble Mineral Exploration
Inc.:
Noble Mineral Exploration Inc.
is a Canadian based junior exploration company holding in excess of
72,000 hectares of mineral rights in the Timmins - Cochrane 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
SOURCE: Noble Mineral Exploration
Inc.
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