Noble Announces Extension and Re-pricing of Warrants


Follow this company

Companies Mentioned

PK:NLPXF / TSX.V:NOB
04/14/2014 [ACCESSWIRE]

TORONTO, ONTARIO / ACCESSWIRE / April 14, 2014, Noble Mineral Exploration Inc. (the "Company", "Noble" or "NOB") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) announces that it has received from the TSX Venture Exchange (the "Exchange") approval 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 new expiry date for the Warrants would be April 13, 2016. The new exercise price of the Warrants will 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

SOURCE: Noble Mineral Exploration Inc.  

COMMENTS

Leave a comment...
 * 

Your Name
 *