Nobel Resources Corp. (TSX VENTURE: NBLC) is pleased to announce that, further to its press release of September 20, 2021, it has completed the final tranche of its brokered private placement of units. Pursuant to the Final Tranche, Nobel has issued an aggregate of 7,777,780 Units at an issue price of $0.45 per Unit for gross proceeds of $3,500,000. Pursuant to the Offering, the Company issued an aggregate of 11,111,112 Units at the Offering Price for total gross proceeds of $5,000,000. The Offering was led by Clarus Securites Inc., together with iA Private Wealth Inc. and Research Capital Corporation (collectively, the “Agents”).
Each Unit is comprised of one common share in the capital of the Company and one-half of one Common Share purchase warrant. Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.60 for 36 months following the date hereof. The Warrants were issued pursuant to, and the exercise of the Warrants will be governed by, the provisions of a warrant indenture dated September 23, 2021, entered into between the Company and Computershare Trust Company of Canada, as warrant agent. A copy of the Warrant Indenture is available under the Company’s issuer profile on SEDAR at www.sedar.com.
In connection with the Final Tranche, the Agents were paid a cash commission of $210,000, being equal to 6.0% of the gross proceeds raised under the Final Tranche and 466,666 broker warrants of the Company which is equal to 6.0% of the number of Units sold to subscribers in the Final Tranche. Each Broker Warrant shall be exercisable to purchase one Common Share of the Company at an exercise price equal to the Offering Price at any time for a period of 36 months following the Closing Date. The completion of the Offering is subject to final approval of the TSX Venture Exchange.
The net proceeds of the Offering shall be used for project exploration and for other general and corporate purposes. All securities issued in connection with the Final Tranche are subject to a statutory hold period of four months and one day from the Closing Date, in accordance with applicable Canadian securities laws.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer and its management, as well as financial statements.
Nobel Resources has the right to acquire 100% interest in the Algarrobo Iron Oxide Copper Gold Ore (IOCG), a potential IOCG style high grade copper property in Chile. The country is a top mining jurisdiction as it is strategically located within 25 km from port and has world-class IOCG deposits within the Major Candelaria belt. Chile’s mining capabilities benefit from close to surface, high grade mineralization within the mining face and has the necessary permitting in place.
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We acknowledge the [financial] support of the Government of Canada.