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July 14, 2020
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Toronto, ON – TheNewswire – November 28, 2019 – Noble Mineral Exploration Inc. (TSXV:NOB) (OTC:NLPXF) (“Noble” or the “Company”) today announced that further to the letter of intent signed by the Company as announced on October 1, 2019, the Company has entered into the definitive agreement for that transaction on the same basis.
“This transaction will unlock significant value for Noble as we participate in advancement of the Crawford Nickel-Sulphide project in a dedicated nickel company led by Mark Selby, a recognized leader in the global nickel industry given his experience and network successfully advancing the Dumont nickel Project“
Mr. Vance White, President & CEO of Noble
Transaction Summary
The planned consolidation of the Crawford Nickel-Sulphide Project (“the Project”) will be put into effect under the terms of an implementation agreement dated as of November 14, 2019 (the “Implementation Agreement”) that has been entered by Canada Nickel Company Inc. (“Canada Nickel”), Noble, Mark Selby (a principal of Canada Nickel), Spruce Ridge and certain private investors (the “Investors”) based on the previous agreed terms in the binding letter of intent announced October 1, 2019.
The net result for Noble of the proposed transactions under the Implementation Agreement (the “Transactions”) is:
Royalty Transaction
As described in the Implementation Agreement, the Transactions will facilitate the reduction of the current royalty on Project 81 from 5% to 2%.
As previously announced, Noble has entered into a royalty assignment agreement for the purchase of the current 5% royalty. (See Noble’s news release of October 24, 2019.) Noble has also entered into agreements with Franco-Nevada Corporation (“Franco-Nevada”), as holder of certain rights, including a right of first refusal, in respect of the 5% royalty. Pursuant to these agreements, the existing 5% royalty on approximately 55,000ha of patented properties in Project 81 (including the patented properties within the Crawford Nickel-Sulphide Project) will be acquired by Noble for payments of $2 million, in instalments, to the holder of the 5% royalty. The 5% royalty will be terminated and replaced by a 2% royalty payable to Franco-Nevada and Noble will issue shares to Franco-Nevada having an agreed value of $500,000. The $2 million cash payment will be funded from the cash received by Noble from Canada Nickel and from the anticipated $1 million convertible debt funding. Closing of these transactions, including the issuance of shares, is expected to occur by mid-December.
“I look forward to future transactions utilizing our project generator model on the many nickel, copper-zinc VMS, and gold targets on our strategic Project 81 land package.”
Mr. Vance White, President & CEO of Noble
Canada Nickel Update
As of November 28th, Canada Nickel has raised $2.9 million under the $5 million non-brokered fully subscribed private placement (the “Private Placement”) described in Noble’s news release of October 1, 2019 and expects to complete the balance on or before the completion of the Transactions.
Property Consolidation, Share Distribution & Canada Nickel Qualification as Public Entity
Subject to the receipt of regulatory and shareholder approval, it is expected that the consolidation of the Crawford Nickel-Sulphide Project will be completed early in January 2020.
Contacts:
H. Vance White, President
Phone: 416-214-2250 Fax: 416-367-1954 Email: info@noblemineralexploration.com
Investor Relations Email: ir@noblemineralexploration.com
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in in Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds in excess of 79,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. More detailed information is available on the website at www.noblemineralexploration.com. or @ insidexploration.com/nob/
I am a 3rd generation miner who was born and raised in the silver capital of Canada, Cobalt, Ontario. For the last 10 years I have been invested in the mining sector and as a retail investor found it difficult gathering information on companies of interest. For this reason we created Insidexploration.com as a means to share our due diligence with investors all around the world. Disclosure The thoughts and opinions expressed in my articles and research reports are my own and do not represent those of the companies I write about. I often buy and sell the stocks I write about and may do so at any point in time without warning. Disclaimer My articles and research reports should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided is derived from sources believed to be accurate, but cannot be guaranteed. I do not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. I am not a registered financial advisors and one should always do your own due diligence and consult a licensed investment adviser prior to making any investment decisions. Always reference www.SEDAR.com for important risk disclosures.
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Register here: https://us02web.zoom.us/webinar/register/3816522592690/WN_7FT6Y5oCQoaX_4dU2zazBg
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We will be in attendance at the Vancouver Resource Investment Conference today and tomorrow. Drop by booth #1029 and learn more about our 2 exciting projects in Quebec and Ontario, Canada.
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Red Lake District & Walker Lane Trend
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https://newrangegold.com/news/news-releases/2022/newrange-provides-exploration-update/
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