Noble Mineral Exploration Inc. (TSXV: NOB) (OTCQB: NLPXF) announced on May 19, 2026, that the Ontario Superior Court of Justice (Commercial List) issued a final order on May 15 approving its previously announced plan of arrangement under the Business Corporations Act (Ontario). The arrangement, which received overwhelming shareholder approval at a special meeting on May 7, will reorganize Noble's share capital and distribute shares of Homeland Nickel Inc. to Noble's shareholders.
Under the arrangement, current Noble common shares will be exchanged for new common shares with identical rights and a pro rata portion of approximately 9,000,000 common shares of Homeland. 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 or after the effective date of May 27, 2026. The distribution is subject to final approval from the TSX Venture Exchange.
H. Vance White, President and CEO of Noble, emphasized the significance of the distribution: “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 be proceeding with the distribution of 9,000,000 Homeland shares to our shareholders.” He noted that applying Homeland's recent closing price, the distribution would return approximately C$4 million in value to Noble's shareholders. Combined with earlier distributions of Canada Nickel Company Inc. shares in 2020 and 2022, Noble will have distributed over C$28 million in current value to its shareholders.
Homeland Nickel Inc. is a TSX Venture-listed company focused on critical metals, with ten nickel projects in Oregon, USA, hosting large historical nickel resources, and interests in copper and gold projects in Newfoundland, Canada. More details are available on Homeland's website at https://homelandnickel.com/.
The timeline for the arrangement includes a record time for distribution on May 27, 2026, at 12:00 a.m., with the effective date and time set for May 27 at 12:01 a.m. The first trading date for the new Noble common shares under a new CUSIP is expected to be May 29, 2026. Shareholders wishing to participate in the distribution are advised to complete purchases or exercise warrants or options by May 22, 2026, to ensure settlement by the record date.
Noble will retain more than 10 million shares of Homeland after the distribution. White indicated that the company will continue to seek opportunities to distribute significant share blocks of other public companies it has acquired over the years, including some of the retained Homeland shares.
Noble Mineral Exploration Inc. is a Canadian junior exploration company with holdings in Canada Nickel Company Inc., Homeland Nickel Inc., East Timmins Nickel Inc. (20%), and the Holdsworth gold exploration property in Wawa, Ontario. The company holds mineral and exploration rights in approximately 70,000 hectares in Northern Ontario and about 25,000 hectares in Quebec, including the 18,000-hectare Project 81 in Timmins-Cochrane, which hosts drill-ready gold, nickel-cobalt, and base metal targets. Additional properties include the Nagagami Carbonatite Complex and Boulder Project near Hearst, Ontario, and various nickel, copper, PGM, and rare earth element properties in Quebec and Newfoundland. Further information is available on Noble's website at https://www.noblemineralexploration.com.
This arrangement underscores Noble's strategy of unlocking shareholder value by distributing stakes in its portfolio companies directly to shareholders, providing them with direct exposure to the progress of those ventures.
