TORONTO, May 27,
2026 – TheNewswire
– Noble Mineral Exploration
Inc. (“Noble” or the “Company”) (TSXV:
NOB) (OTCQB: NLPXF) is pleased to announce the completion of its
previously announced plan of arrangement (the “Arrangement”) under
the Business Corporations Act
(Ontario) (the “OBCA”). The
Arrangement was approved by Noble’s shareholders on May 7, 2026 in
accordance with the OBCA, and the Ontario Superior Court of Justice
(Commercial List) issued a final order for the Arrangement on May 15,
2026. The Arrangement took effect at 12:01 a.m. on May 27, 2026 (the
“Effective Time”).
Under the Arrangement, in exchange for each common
share of Noble (an “Old
Noble Share”) held by a shareholder at the
Effective Time, each Noble shareholder is entitled to receive one new
common share of Noble (a “New Noble Share”) and a pro rata portion of
9,000,000 common shares of Homeland Nickel Inc. (the “Homeland Shares
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”
and, together with the New Noble Shares, the “
Consideration
”).
Immediately prior to the Effective Time, Noble had a total of
264,233,467 common shares issued and outstanding, and therefore the
distribution ratio of Homeland Shares to Noble shareholders will be
approximately 0.03406078 of a Homeland share for each Old Noble Share
held. Noble will retain Homeland Shares after the completion of the
Arrangement, as the distribution of Homeland Shares through the
Arrangement does not include all of the Homeland Shares held by Noble
prior to the Arrangement.
In order to receive the Consideration to which they are
entitled, registered holders of Old Noble Shares will be required to
deposit to TSX Trust Company their share certificate(s) or DRS
statements for Old Noble Shares with a duly completed letter of
transmittal (as provided with the information circular for the special
meeting of Noble shareholders held on May 7, 2026). TSX Trust Company
is acting as depositary for the Arrangement. Shareholders of Noble
whose common shares of Noble are registered in the name of a broker,
dealer, bank, trust company or other nominee should contact their
nominee with questions regarding how to receive the
Consideration.
Details of the Arrangement were disclosed in the
management information circular of Noble that was provided for the
special meeting of Noble shareholders held on May 7, 2026. A copy of
that circular is also available under Noble's profile on SEDAR+
at www.sedarplus.com.
As a result of the Arrangement, on Monday June 1, 2026,
the New Noble Shares will begin trading under the following new CUSIP
number: 65506N200 / ISIN CA65506N2005. The Arrangement remains subject
to final approval of the TSX Venture Exchange.
About Noble Mineral Exploration
Inc.
Noble Mineral Exploration Inc. is a Canadian-based
junior exploration company, which has holdings of securities in Canada
Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc. (20%), and its
interest in the Holdsworth gold exploration property in the area of
Wawa, Ontario.
Noble holds mineral and/or exploration rights in
~70,000ha in Northern Ontario and ~25,000 ha elsewhere in Quebec upon
which it plans to generate option/joint venture exploration programs.
Among those are included Noble ‘s mineral rights and/or
exploration rights in 18,000 hectares in the Timmins-Cochrane areas of
Northern Ontario known as Project 81, ~2,215 hectares in Thomas Twp/Timmins, and an
additional 20% interest in ~38,700 hectares in the Timmins area held
by East Timmins Nickel. Project 81 hosts diversified drill-ready gold,
nickel-cobalt and base metal exploration targets at various stages of
exploration. Noble’s holdings in Ontario also include: ~4,600
hectares in the Nagagami Carbonatite Complex;
and ~3,200 hectares in the Boulder Project; both near Hearst, Ontario.
In Quebec, it holds: ~3,700 hectares in the Buckingham Graphite
Property; ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM
property; ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM
property; ~569 hectare Uranium/Rare Earth property (Chateau); ~461
hectare Uranium/Molybdenum property (Taser North); ~4,465 hectares REE
Mehmet Property; the ~3,300 hectare Gull Lake REE Property; and
the ~1,232 hectare Opawica Scandium and REE
Property. In Newfoundland and Labrador, it holds the~ 647 hectare Chapiteau REE property.
Noble’s common shares trade on the
TSX Venture Exchange under the symbol “NOB”.
Cautionary Note and Statement
Concerning Forward Looking Statements
This press release contains certain information that
may constitute "forward-looking information" under applicable
Canadian securities legislation. Forward-looking information is
necessarily based upon several assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and
other factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking information. Factors that could affect the outcome
include, among others: future prices and the supply of metals, the
future demand for metals, the results of drilling, inability to raise
the money necessary to incur the expenditures required to retain and
advance the property, environmental liabilities (known and
unknown), general business, economic, competitive, political and
social uncertainties, results of exploration programs, risks of the
mining industry, delays in obtaining governmental approvals, failure
to obtain regulatory or shareholder approvals. 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 information. Accordingly, readers should not
place undue reliance on forward-looking information. All
forward-looking information contained in this press release is given
as of the date hereof and is based upon the opinions and estimates of
management and information available to management as at the date
hereof. Noble disclaims any intention or obligation to update or
revise any forward-looking information, whether because of new
information. Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in 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.
