Noble Metal Group: Issue of NHA Preferred Shares
October 29 2008 - 12:23PM
Marketwired
Noble Metal Group Incorporated (TSX VENTURE: NMG) -
Noble Hydrocarbons Alta Ltd. ("NHA")
Noble Hydrocarbons Alta Ltd. plans to raise up to CDN$5,000,000
through the issuance of a total of 100 NHA Class 1 Preferred Shares
Series A at a price of CDN$50,000.00 per share. The Company is
pleased to announce the first tranche of financing in the amount of
CDN$1,050,000 by the issue of 21 preferred shares in NHA has been
completed.
The funds raised are to pay for the acquisition and exploration
costs of NHA's hydrocarbon exploration permitted lands as well as
the acquisition of technology licences from Global Resource
Holdings LLP and its affiliates and the development of inaugural
cracking hycraft plants.
The Class1 Series A Preferred Shareholders have the right to
share pro rata in the profit generated by NHA on a declining
percentage basis with the amount of the dividend ranging from 30%
of the net income of NHA where that income is less than $5,000,000;
plus 15% of the net income between $5,000,000 and $15,000,000; plus
7.5% of the net income between $15,000,000 and $50,000,000; plus 3%
of the net income between $50,000,000 and $100,000,000; and 1.5%
for any net income over $100,000,000. Investors must be either
"accredited investors" within the meaning of the appropriate
legislation for Canadian or US investors or fall within one of the
appropriate exemptions in order to be able to subscribe for the
preferred shares.
ON BEHALF OF THE BOARD OF DIRECTORS
NOBLE HYDROCARBONS ALTA LTD.
JJ McIntyre, President
Anyone wishing to be added to the email recipients list for our
News Release may forward an email request to
nobleinc@telus.net.
Except for statements of historical fact relating to the
Company, this news release contains certain "forward-looking
information" within the meaning of applicable securities law.
"Forward-looking information" is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", and other similar words, or statements
that certain events "may", "will", or "could" occur. There are
uncertainties inherent in forward-looking information including
factors beyond the company's control, and no assurance can be given
that the programs will be completed on time, on budget or at all.
The reader is cautioned not to place undue reliance on
forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this news release.
Contacts: Noble Metal Group Incorporated JJ McIntyre President
(604) 683-9338 (604) 683-9293 (FAX) Email: nobleinc@telus.net
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