Toronto, Ontario – April 8, 2022 – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSXV:NOB) (FRANKFURT:NB7) (OTC:NLPXF) announces that on April 6, 2022 (the “Date of Grant”), the Company’s Board approved the grant of a total of 2,125,00 stock options (the “Options”) and 1,750,000 restricted share units (“RSUs”) to officers, directors, and certain consultants of the Company. The Options were granted for services rendered in previous financial years and to date in the current financial year. 75,000 of the Options were granted to a party who provides investor relations services to the Company, and therefore vest 25% every 3 months. The balance of the Options vest immediately. The RSUs, which vest one year after grant, were granted for services to be rendered over the next year. The Options and RSUs were granted pursuant to the 2022 Equity Incentive Plan approved at the Company’s shareholder meeting on March 14, 2022.
The Options have an exercise price of $0.12 per common share of Noble and are exercisable for three years. Out of the total number of Options and RSUs granted, 1,100,000 Options and 1,100,000 RSUS were granted to directors and officers of the Company. Upon being fully vested, the RSUs may be settled in the corresponding number of common shares of the Company, in the cash equivalent of those shares, or in a combination of shares and cash.
The grant of Options and RSUs is subject to compliance with TSX Venture Exchange requirements. Following the grant of Options and RSUs, the Company has a total of 3,525,000 stock options outstanding and 1,750,000 RSUs outstanding.
Upcoming Distribution of CNC shares: Deadline for Exercise of Warrants
As announced by news release on March 9, 2022, Noble will distribute (the “Distribution”) common shares of Canada Nickel Company Inc.(“CNC”) to all shareholders of record of the Company on April 18, 2022 (the “Record Date”). The Distribution will be made at a ratio of 0.01725 of a CNC share per whole common share of Noble held (or approximately 1 CNC share per 58 Noble shares held). The Distribution will be made pro rata to shareholders. Only shareholders of record as of the close of business on the Record Date will be entitled to receive the Distribution.
Unexercised warrants of Noble do not carry any entitlement to any portion of the Distribution. Those warrant-holders who intend to exercise their warrants in time to participate in the Distribution are strongly encouraged to arrange for their exercise packages, with payment, to be received by Noble no later than Noon, Eastern time, on Wednesday, April 13, 2022. Warrant exercise packages and payments received after that time may not be processed in time for the shares to be issued by the Record Date deadline for participation in the Distribution.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold approximately 40,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional ~11,000 hectares in the Timmins area and ~14,000 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It also holds its recently acquired the ~14,000 hectare Nagagami Carbonatite Complex near Hearst, Ontario, as well as the Buckingham Graphite Property, the Laverlochere Nickel, Copper, PGNM property and the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at www.noblemineralexploration.com.
Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB”.
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.
H. Vance White, President