Noble Announces Shares for Debt Settlement


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PK:NLPXF / TSX.V:NOB
06/17/2014 [ACCESSWIRE]

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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