Noble Subsidiary Enters Letter of Intent to Acquire Tommy Chong Endorsed - Canna-Saver.com
05 Junio 2014 - 9:09AM
Access Wire
Toronto, ON / ACCESSWIRE / June 5, 2014 /
Noble Mineral Exploration Inc. (the "Company", "Noble" or "NOB")
(TSX-V:NOB,
FRANKFURT;NB7,
OTC.PK:NLPXF)
is
pleased
to
announce
that it
has
signed
a
non-binding
Letter of
Intent
whereby
its
wholly
owned
subsidiary
("Noble Subsidiary"),
would
acquire
a 50%
interest
in Canna-Saver.LLC ("Canna-Saver"),
with
a right
to
acquire
the
remaining
50%
interest
upon
completion
of
certain
conditions.
It is
Noble's
intention
that the
subsidiary
would
become
a
separate
public
company
with a
listing
on a
Canadian
and US
stock
exchange
or
market
place,
and
Noble
would
distribute
to its
existing
shareholders
a
unit
of
Noble
Subsidiary
that
would
be
comprised
of one
share
and 1/4 of a
warrant,
with
each
full
warrant
being
exercisable
at $0.20
into a
share
of
Noble
Subsidiary.
These
units
would
be
distributed
pro
rata to
the
shareholders
of Noble at a
ration
that,
based
on
Noble's
current
capitalization,
is
expected
to
give
rise
to
approximately
1
unit
of the
Noble
Subsidiary
distributed
for
every
6
shares
of Noble
currently
outstanding.
Canna-Saver.com
was the
first
website
in the
world
to
focus
solely
on
cannabis
coupons
and
deals
catered to
the
marijuana
demographic
that has
emerged
as a
result
of
marijuana
decriminalization
and
legalization
in
certain
parts
of the US and
the
world.
In
less
than a
year,
Canna-Saver
has
exceeded
all
industry
expectations
to
become
one of the
most
recognized
brands
in
the
Cannabis
industry.
The
Canna-Saver
trademarked
logo has
grown
to
represent
the
industry
standard
for
marijuana
coupons and
deals.
The
company
is
based
in
Denver,
Colorado,
and
recently
won a
Cannabis
Industry
business
award
for
invention
of the
year.
Canna-Saver
has been
hailed
as the
"Groupon of
Marijuana"
on
CNN's
Outfront
with
Erin
Burnett,
highlighted
on Fox
News,
and in
High
Times
Magazine.
The founder
of the
company,
Brian
Shapiro
has been
called
the
Coupon
Don
and
named
the
inventor
of the
marijuana
coupon.
The
company
now
intends
to
expand
into the
California
and
Washington
State
markets
and
will
be
actively
seeking
additional
acquisitions
in
this
space.
Canna-Saver
also
has an
Agreement
with
Tommy
Chong,
a
well
known
comedian,
movie
star,
and long
time
advocate
for
marijuana
use.
The
agreement
calls
for
Tommy
Chong
to act
as the
key
spokesperson
for the
Canna-Saver.com
web
platform
and to
perform
other
duties
to
increase
brand
awareness
for
Canna-
Saver.
Regarding
the
transaction,
Mr.
Vance
White,
President
of Noble,
stated:
"We
are
extremely
pleased
with
this
new
business
relationship
as it
will
provide
Noble
Mineral
Exploration
Inc.'s
existing
shareholders,
through
the
unit
distribution,
an
opportunity
to
participate
in a
new
industry
with
what we
believe
will
have
very
strong
growth
potential."
Regarding
the
transaction,
Mr
Brian
Shapiro
Founder
and CEO
of
Canna-Saver
stated:
"We
are
very
excited
to
form
this
new
business
relationship
which
we feel
will
be
instrumental
in our
efforts
to
expand
our
platform
and
services
into other
markets,
as
well
as to
acquire
synergistic
acquisitions
in the
marijuana
industry.
We
believe
that
we're
at the
beginning
stage of
an
explosive
market,
with
tremendous
growth
potential--especially
as
more
and
more
states in
the US
become
involved."
Following
the
execution
of its
Letter of
Intent
with
Canna-Saver,
Noble
will
now
work to
complete
its due
diligence
of
Canna-Saver,
to
negotiate
and
enter
into
definitive
agreements
for the
transactions
outlined
in
the
Letter of
Intent, to
otherwise
to
embark
upon the
steps
outlined
in the
Letter of
Intent and to
obtain
all
regulatory
and
stock
exchange
approvals.
For the
time
being,
the
Letter of
Intent
remains
non-binding.
Noble
Minerals
will
continue
to
focus
its
attention
on the
vast
mineral
potential
of its
Project
81 -
Block
A
land
holdings
in the
Timmins-Cochrane
district
and
its
Holdsworth
Gold
Oxide
Sand
project
in the
Wawa
district.
Both
projects
are
located
in
Northern
Ontario,
and
Noble
will
continue
to
work
to
advance
the
exploration
of this
property
though
initiatives
that
Noble
hopes
will
include
joint
venture
arrangements
with
senior
exploration
and
mining
partners.
About Noble Mineral Exploration Inc.
Noble
Mineral
Exploration
Inc.
is a
Canadian
based
junior
exploration
company
holding
in
excess
of 72,000
hectares
of
mineral
rights
in the
Timmins
Cochrane
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
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.
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.
Contacts:
Noble Mineral Exploration Inc.
H.
Vance
White,
President
Phone:
416-214-2250
Fax:
416-367-1954
eMail:
info@noblemineralexploration.com
Investor
Relations
Phone:
416-214-2250
eMail:
ir@noblemineralexploration.com
SOURCE: Noble Mineral Exploration
Inc.
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