After receiving $15 million in additional debt financing last week, Noble Iron announced a non-
brokered private placement offering of up to $5.0MM CDN, for 3,846,154 common shares of
the company at a price of $1.30 per share. Noble Iron intends to use the proceeds for growth
initiatives at its Southern California and Houston CELLs (Centralized Equipment Logistics Location (TM)), and for general working capital purposes.
The Private Placement is expected to close on or about April 30, 2013, and may close within 21 days of such date if the company determines it is reasonable given the circumstances. Insiders of the company are expected to subscribe for at least 25% of the Private Placement.
For more about Noble Iron's private placement plans...