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TORONTO, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Nobel Resources Corp. (TSX–V: NBLC; OTCQB: NBTRF) (the “ Company ” or “ Nobel ”) is increasing its previously announced non-brokered private placement financing from total gross proceeds of up to $800,000 to total gross proceeds of up to $1,200,000 (the “ Offering ”). The Offering will now consist of up to 24,000,000 units (the “ Units ”) to be priced at $0.05 per Unit.
Each Unit will be comprised of one common share in the capital of the Company (each a “ Common Share ”) and one-half of one Common Share purchase warrant (each whole warrant, a “ Warrant ”). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.10 per Common Share for a period of 36 months following the completion of the Offering. Securities issued under the Offering are expected to carry a holder period of 4 months and one day from the date of issue as may be required under applicable securities laws.
The Company plans to use the aggregate net proceeds of the Offering to identify and evaluate potential acquisition of mineral properties as well as general corporate working capital purposes.
The Offering is scheduled to close on or about September 18, 2024 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
The securities being offered have not, 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 release does not constitute an offer for sale of securities in the United States.
About Nobel
Nobel Resources is a Canadian resource company focused on identifying and developing prospective mineral projects. The Company has a team with a strong background of exploration success.
For further information, please contact:
Vincent Chen
Investor Relations
vchen@nobel-resources.com
www.nobel-resources.com
Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the Offering, the use of proceeds of the Offering, the Company’s ability to identify and acquire new projects and restart its business and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nobel, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Nobel has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Nobel does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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