Noble Mineral Exploration Files Materials for Shareholder Vote on Homeland Nickel Distribution Arrangement

Noble Mineral Exploration Inc. has filed management information circular and related materials for a special shareholder meeting where shareholders will vote on an arrangement to distribute Homeland Nickel Inc. shares. The company announced that shareholders of record as of March 27, 2026, will vote on May 7, 2026, on the arrangement that would exchange each Noble common share for approximately 0.034 of a Homeland common share and one new Noble share with identical rights. The board of directors unanimously recommends shareholders vote in favor of both the arrangement and a proposed reduction of stated capital by up to $20,000,000.

The primary purpose of the arrangement is to facilitate the distribution of 9,000,000 Homeland shares to Noble shareholders in a tax-efficient manner. By utilizing a court-approved plan of arrangement, the company intends to return the value of those Homeland shares without that return being necessarily treated as a dividend for Canadian tax purposes. This structure is designed to maximize the after-tax value received by shareholders while ensuring they maintain their ongoing equity interest in the company. The arrangement received conditional approval from the TSX Venture Exchange on March 24, 2026, and an interim court order from the Ontario Superior Court of Justice.

The arrangement resolution requires approval by at least two-thirds of votes cast by Noble shareholders at the meeting, plus approval by a majority of common shares voted excluding shareholders who could be considered to have an interest in the arrangement. These include those serving on Homeland's board or as officers, as well as Homeland itself as a Noble shareholder. Registered shareholders have dissent rights under section 185 of the Business Corporations Act (Ontario) and can be paid fair value for their shares if they dissent. Meeting materials are available under the company's SEDAR+ profile at https://www.sedarplus.ca, on TSX Trust Company's website at http://docs.tsxtrust.com/2165, and on Noble's website at https://noblemineralexploration.com.

If approved, the arrangement is scheduled to become effective on May 25, 2026, with the record date for distribution set for May 27, 2026. The company expects to apply for a final court order with a hearing scheduled for May 15, 2026. The reduction of stated capital authorization would enable future distributions of securities held by Noble to shareholders without requiring additional plans of arrangement. Holders of Noble options and warrants are not entitled to vote at the meeting and will only receive Homeland shares if they exercise their securities at least two business days before the arrangement's completion. The arrangement represents a strategic move to unlock value from Noble's holdings while maintaining shareholder equity positions in both companies through a structured, tax-advantaged transaction.