Noble Provides Update on Conditional Sale of Surface Rights to Block A of Project 81admin
Toronto, Ontario – January 22, 2014, Noble Mineral Exploration Inc. (the "Company", "Noble" or "NOB") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) announces that it has agreed to extend the deadline for the completion of due diligence by the US private equity firm (the "Purchaser") with which Noble has signed an agreement for the sale of the surface rights and timber rights to Block A of the Company’s Project 81 (approximately 145,000 acres, or 58,000 hectares), located in the Timmins area of northern Ontario.
As disclosed by Noble in its press release of October 24, 2013, the Company has signed a purchase and sale agreement for the sale of those surface and timber rights. The agreement provided the Purchaser with a due diligence deadline that would have expired on Monday, January 20, 2014. Noble and the Purchaser have now agreed to extend the deadline for the completion of due diligence to Monday, January 27, 2014.
The sale would be subject to the approval of the TSX Venture Exchange. IBK Capital Corp. is acting as financial advisor to Noble on this transaction.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 72,000 hectares of property in the Timmins, Iroquois Falls and Smooth Rock Falls areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan.
More detailed information is available on the website at www.noblemineralexploration.com
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.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Noble Mineral Exploration Inc.
H. Vance White, President
Posted: January 22nd, 2014 under ACCESSWIRE.