Noble Mineral Exploration Inc. (TSXV: NOB) (OTCQB: NLPXF) has obtained a final order from the Ontario Superior Court of Justice approving its previously announced plan of arrangement, the company disclosed on Tuesday. The court order, issued on May 15, 2026, clears the way for Noble to reorganize its share capital and distribute shares of Homeland Nickel Inc. to its shareholders.
The arrangement, approved by an overwhelming majority of shareholders at a special meeting on May 7, involves exchanging current common shares for new common shares with identical rights and a pro rata portion of approximately 9 million common shares of Homeland Nickel. Each Noble share is expected to entitle its holder to receive about 0.034 of a Homeland share, with the exact ratio to be confirmed on the effective date.
Completion of the arrangement remains subject to final approval by the TSX Venture Exchange. Noble anticipates the transaction will be effective on May 27, 2026, with the first trading day of the new Noble common shares under a new CUSIP expected on May 29. Shareholders wishing to participate in the distribution are urged to complete share purchases or exercise warrants or options by May 22 to ensure settlement by the record date.
President and CEO H. Vance White emphasized that the distribution aligns with Noble’s strategy of enabling shareholders to directly benefit from the company’s holdings. “In keeping with our past practice of allowing our shareholders to participate directly in the progress of companies in which Noble holds shares, we are very pleased to proceed with the distribution of 9,000,000 Homeland shares to our shareholders,” White said. He noted that Homeland Nickel, a TSX Venture-listed company focused on critical metals, holds ten nickel projects in Oregon with large historical nickel resources, as well as copper and gold projects in Newfoundland. Details are available on Homeland’s website at https://homelandnickel.com/.
Based on Homeland’s recent closing price, the distribution represents approximately $4 million in value returned to Noble shareholders. Combined with earlier distributions of Canada Nickel Company Inc. shares in 2020 and 2022, Noble will have distributed more than $28 million in current value to its shareholders. Noble will retain over 10 million Homeland shares after the distribution.
White added that the company will continue to seek opportunities to distribute significant share blocks of other public companies it has acquired. Noble holds securities in Canada Nickel Company Inc., Homeland Nickel Inc., and a 20% interest in East Timmins Nickel Inc., along with the Holdsworth gold exploration property in Wawa, Ontario. The company also holds mineral and exploration rights across approximately 70,000 hectares in Northern Ontario and 25,000 hectares in Quebec, including the Project 81 area in Timmins-Cochrane, which hosts drill-ready gold, nickel-cobalt, and base metal targets.
The arrangement underscores Noble’s commitment to unlocking value for shareholders through strategic distributions of its portfolio holdings, a move that could set a precedent for how junior exploration companies reward investors.
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