Noble Plains closes $1M private placement with Ur-Energy participation

Noble Plains Uranium Corp. (TSXV: NOBL) (FSE: INE0) has closed a non-brokered private placement, raising $1,009,600 through the issuance of 10,096,000 units priced at $0.10 each, according to a company statement.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional share at $0.15 for two years from issuance, subject to an accelerated expiry if the share price trades at or above $0.30 for 10 consecutive trading days.

Existing shareholder Ur-Energy Inc. (NYSE: URG) (TSX: URE), which holds approximately 6.14% of Noble Plains' issued and outstanding common shares, participated in the offering by subscribing for 616,000 units for gross proceeds of $61,600 to maintain its pro-rata ownership position.

Company directors and officers also participated, purchasing 600,000 units for $60,000. Their participation was classified as a related party transaction under Multilateral Instrument 61-101, though the company says it qualifies for exemptions from formal valuation and minority shareholder approval requirements.

Noble Plains paid cash finder's fees of $10,600 and issued 91,000 finder warrants exercisable at $0.15 per share until June 25, 2028.

The company said proceeds will be directed toward exploration work at its Duck Creek and Shirley Central uranium projects in Wyoming's Powder River Basin and Shirley Basin, as well as general working capital. All securities issued carry a hold period expiring October 26, 2026, and the offering remains subject to final TSX Venture Exchange approval.

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