Noble Iron: Press Release – Shareholders Meeting


NOBLE IRON CALLS A SPECIAL MEETING OF SHAREHOLDERS

Special meeting convened to approve the share capital reduction

San Francisco, October 14, 2022 – Noble Iron Inc. (“Noble Iron” or the “Company”) (TSX Venture: NIR) announced today that it has called a special meeting of shareholders for December 1, 2022 (the “Meeting”). At the Meeting, shareholders will be asked to consider a reduction in the stated capital of the Company.

As previously announced, the Company is evaluating the options available to repay the capital raised in connection with the sale of the Texada Software business to Banneker Partners to its shareholders, as disclosed in the Company’s press releases dated April 18, 2022, 19 May 2022, June 17, 2022 and June 30, 2022. Following this, the Company called the Meeting to request the Shareholders to approve a reduction in the stated capital of the Company in accordance with Article 34(1)(b) (i) the Business Corporations Act (Ontario) for the purpose of distributing to holders of common stock of the Company (the “Distribution”) a portion of the proceeds from the sale of the Texada Software business. The reduction in stated capital and the distribution are subject to receipt of all regulatory, shareholder, corporate and TSXV approvals. There can be no assurance that the Distribution will receive the required approvals or that the Company will proceed with the Distribution. Further distribution details will be provided as they become available.

About Noble Iron Inc.

Noble Iron can be reached at www.nobleiron.com/contact usor call 1(800) 361-1233.

Corporate communication contacts: Mariam Chaudhry

Chief Financial Officer t: (226) 962-2718

e: [email protected]

Nabil Kassam

Founder, President and CEO t: (650) 766-9177

e: [email protected]

Caution Regarding Forward-Looking Statements

This press release may contain forward-looking statements that reflect the Company’s current expectations regarding future events, including in connection with the proposed distribution. Forward-looking statements are often, but not always, identified by words such as “seek”, “anticipate”, “plan”, “estimate”, “expect”, “intend” and statements that an event or result “could”, “should”, “should”, “could” or “could” occur or be achieved and other similar expressions. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking statements and information and, therefore, readers should not place undue reliance on such statements and information. information. The Company’s current securities law filings should be consulted for additional information about the risks and uncertainties associated with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. Management undertakes no obligation to update or change any forward-looking statements, whether as a result of new information, other events or otherwise, except as required by law.

Neither the 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.

Disclaimer

Fer Noble inc. published this content on October 14, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on October 15, 2022 21:42:00 UTC.

Public now 2022

All the news from NOBLE IRON INC.

Sales 2021 6.74 million
4.86 million
4.86 million
Net income 2021 0.27 million
0.19M
0.19M
Net cash 2021 5.27 million
3.80M
3.80M
PER 2021 ratio 72.4x
2021 performance
Capitalization 23.5 million
16.9 million
16.9 million
EV / Sales 2020 0.52x
EV / Sales 2021 2.09x
# of employees
Floating 43.7%


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Evolution of the income statement


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