Nobel Resources Corp. (TSX-V: NBLC) is pleased to announce that, further to its press release dated September 1, 2021, it has completed the first tranche of its brokered private placement of units. Pursuant to the First Tranche, Nobel has issued an aggregate of 3,333,332 Units at an issue price of $0.45 per Unit for gross proceeds of $1,500,000. The Offering is led by Clarus Securities Inc., together with iA Private Wealth Inc. and Research Capital Corporation.
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 completion of the Private Placement. The Warrants were issued pursuant to, and the exercise of the Warrants will be governed by, the provisions of a warrant indenture dated September 20, 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.
The Company will no longer complete the non-brokered offering described in the Initial Press Release. Instead, Nobel has increased the total size of the Offering to $5 million. The Company intends to close the final tranche of the Offering on or about September 23, 2021 for additional gross proceeds of $3.5 million.
In connection with the First Tranche, the Agents were paid a cash commission of $89,999.96, being equal to 6.0% of the gross proceeds raised under the First Tranche and 199,999 broker warrants of the Company which is equal to 6.0% of the number of Units sold to subscribers in the First 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 First Tranche and the Subsequent Tranche are subject to final approval of the TSXV.
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 First 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.