Toronto, ON / ACCESSWIRE / June 23, 2014 / Noble Mineral Exploration Inc. (the "Company", "Noble" or "NOB") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) announces that at a special meeting of shareholders held on June 20, 2014, the shareholders of the Company approved the proposed transfer of the Company's carbon royalty over Block A of Project 81, as well as of the surface and mineral rights of Block B of Project 81.
For further details regarding this proposed asset transfer, which will be completed to repay secured debt owed by the Company, shareholders should review the management information circular dated May 23, 2014 that was prepared and sent to shareholders prior to the June 20, 2014 special meeting of shareholders. A copy of the management information circular can be retrieved under the Company's profile at www.sedar.com.
At the shareholder meeting, the proposed transfer of Noble's 50% carbon royalty and of the surface and mineral rights of Block B of Project 81 was approved 99.94% of disinterested shareholders who voted. All shares held by Kreative Ventures Limited and by that company's principals, William F. White and Gale R. White were excluded from the shareholder vote. The proposed asset transfers will result in the repayment of all secured debt owed by the Company to Kreative Ventures Limited. Noble will retain the right to re-acquire either or both of the assets at the transfer price plus a 1% per month administration fee.
Having now obtained disinterested shareholder approval, the Company will proceed to complete the closing of these asset transfers as soon as possible. The proposed asset transfers have been conditionally approved by the TSX Venture Exchange, and the Company will apply for final acceptance of the transaction from the TSX Venture Exchange prior to closing.
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.
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: [email protected]
Investor Relations
Email: [email protected]
SOURCE: Noble Mineral Exploration Inc.