Under the terms of the Transaction, Noble and Canada Nickel will terminate the current option and joint venture agreements with Canada Nickel acquiring 100% of the applicable property rights or claims, in return for 3.5 million common shares of Canada Nickel.
The anticipated post-closing dividend of approximately 3.5 million Canada Nickel shares to the Noble shareholders, which are valued at more than $11 million based on current market value, would provide Noble’s shareholders with a direct interest in not only the option properties but also the main Crawford Nickel deposit on which we expect additional drill hole results to be reported and a PEA in the very near term.
and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81.
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.