HOUSTON, TEXAS--(Marketwired - Sept. 3, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES OF AMERICA WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA
Noble Iron Inc. ("Noble Iron" or the "Company") (TSX VENTURE:NIR) Noble Iron announced its intention to pursue a non-brokered private placement (the "Private Placement") offering of up to $6.0 million CDN, for up to 6,000,000 common shares of the Company at a price of $1.00 per share. Noble Iron intends to use the proceeds for growth activities at its Southern California and Houston operations, technology development initiatives, and for general working capital purposes.
The Private Placement is expected to close on or about September 30, 2014. Insiders of the Company are expected to subscribe for at least 25% of the Private Placement.
The common shares issued in connection with the Private Placement will be subject to a hold period of four months and one day from the date of distribution under applicable securities laws. The Private Placement is subject to receipt of all required regulatory and TSX Venture Exchange approvals.
More information about the Company can be found at www.sedar.com
About Noble Iron Inc. (TSX VENTURE:NIR)
Noble Iron Inc. operates in equipment rental, equipment sales, and enterprise asset management software for the construction and industrial equipment industry. Noble Iron Inc.'s equipment rental and dealership business operates under the name "Noble Iron", and currently serves customers in California and Texas. Noble Iron offers construction and industrial equipment and accessories for rent and for sale, and is the exclusive distributor of LiuGong Construction Machinery equipment in Southeast Texas.
Noble Iron Inc.'s software division operates under the name "Texada Software". Texada Software develops software applications to manage the complete equipment ownership lifecycle: from equipment purchasing; rental & sales transactions; inventory management; maintenance & depreciation tracking; through to used equipment sales, disposal & inventory replenishment. Texada Software offers in-the-cloud or client-based software, and is scalable to meet the needs of any equipment rental company, dealership, construction company, contractor, and any customer who owns or uses construction or industrial equipment.
The company can be reached at 1-832-767-4424, or at www.nobleiron.com.
This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.