Noble Mineral Exploration Inc. (TSXV: NOB) (OTCQB: NLPXF) has announced that the Ontario Superior Court of Justice issued a final order on May 15, 2026, approving its previously announced plan of arrangement. The arrangement, which was overwhelmingly approved by shareholders at a special meeting on May 7, 2026, involves a reorganization of the company's share capital. Under the plan, current common shares will be exchanged for new common shares and a pro rata portion of approximately 9,000,000 common shares of Homeland Nickel Inc. ("Homeland"), a TSX Venture Exchange-listed company focused on critical metals.
According to the company, each Noble common share is expected to entitle its holder to receive approximately 0.034 of a Homeland share. The actual distribution ratio will be confirmed on or after the effective date based on the number of outstanding Noble shares. The arrangement is subject to final approval by the TSX Venture Exchange, with the record date for distribution set for May 27, 2026, at 12:00 a.m., and the effective date immediately thereafter. The first trading date of the new Noble common shares under a new CUSIP is expected to be May 29, 2026.
President and CEO H. Vance White emphasized the company's commitment to allowing shareholders to directly participate 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 holds ten nickel projects in Oregon, USA, with very large historical nickel resources, as well as interests in copper and gold projects in Newfoundland, Canada. Details can be found on Homeland's website at https://homelandnickel.com/.
Based on Homeland's recent closing price, the distribution represents approximately $4 million in value being returned to Noble's shareholders. When combined with earlier distributions of Canada Nickel Company Inc. shares completed in 2020 and 2022, Noble will have distributed over $28 million in current value to its shareholders. Noble will retain more than 10 million Homeland shares after the distribution and plans to continue seeking opportunities to distribute significant share blocks of other public companies it has acquired.
Noble Mineral Exploration 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. It holds mineral and exploration rights in approximately 70,000 hectares in Northern Ontario and 25,000 hectares in Quebec, including Project 81 in the Timmins-Cochrane area, which hosts diversified drill-ready gold, nickel-cobalt, and base metal targets. More information is available at https://www.noblemineralexploration.com.
Shareholders interested in participating in the distribution are encouraged to complete their purchases or exercise warrants or options by Friday, May 22, 2026, to ensure settlement by the record date. The company will provide further updates on the implementation of the arrangement.
