(TheNewswire)
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Toronto, Ontario – August 15, 2024 – TheNewswire – Noble Mineral Exploration Inc. (“Noble” or the “Company”) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) announces that effective as of August 13, 2024 (the “Date of Grant”), the Company’s Board approved the grant of a total of 4,300,000 stock options (the “Options”) and 2,540,000 restricted share units (“RSUs”) to officers, directors, and certain consultants of the Company. The Options were granted for services rendered and to be rendered. 150,000 of the Options were granted to a party who provides investor relations services to the Company, and therefore vest in tranches of 25% every three months. The balance of the Options vest immediately. The RSUs, which vest one year after the Date of Grant, were granted for services to be rendered over the next year. The Options and RSUs were granted pursuant to the Amended and Restated 2022 Equity Incentive Plan approved at the Company’s shareholder meeting on February 28, 2024.
The Options have an exercise price of $0.05 per common share of Noble and are exercisable for three years from the Date of Grant. Out of the total number of Options and RSUs granted, 2,850,000 Options and 2,300,000 RSUs were granted to directors and officers of the Company. Upon being fully vested, the RSUs may be settled in the corresponding number of common shares of the Company, in the cash equivalent of those shares, or in a combination of shares and cash.
The grant of Options and RSUs is subject to compliance with TSX Venture Exchange requirements. Following the grant of Options and RSUs, the Company has a total of 7,800,000 stock options outstanding and 2,540,000 RSUs outstanding.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20% interest in ~11,000 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. Noble’s common shares trade on the TSX Venture Exchange under the symbol “NOB”.
More detailed information on Noble 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.
Contacts
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
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