Nicola Mining Announces Closing of Non-Brokered Private Placement

TSX.V: NIM NEWS RELEASE   VANCOUVER, B.C., August 25, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that, on August 24, 2016, it completed a non-brokered private placement financing (the “Financing”) as further described in its news release of August 23, 2016. In connection with the closing, the Company sold an aggregate of 18,337,665 units (each, a “Unit”), at a price of $0.12 per Unit, for gross proceeds of $2,200,519.80. Each Unit consists of one common share of the Company (each, a “Share”) and one share purchase warrant (each, a “Warrant”). Each Warrant is exercisable into one additional Share at a price of $0.18 per Share for a period of three years from the date of issuance. Proceeds from the Financing will be used for general working capital. The Company paid cash finders fees of $29,792 and issued 248,266 share purchase warrants (the “Finder’s Warrants”) to three finders in connection with certain subscriptions in the Financing. The Finder’s Warrants have the same terms as the Warrants. Insiders of the Company were issued an aggregate of 933,333 Units under the Financing, which constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The issuance to insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company’s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the...

Nicola Mining Announces Non-Brokered Private Placement

TSX.V: NIM NEWS RELEASE   VANCOUVER, B.C., August 23, 2016 – Nicola Mining Inc. (the “Company”) announces that, subject to regulatory approval, it has arranged a non-brokered private placement financing (the “Financing”) of 18,337,665 units (each, a “Unit”) at a price of $0.12 per Unit for gross proceeds of $2,200,519.80. Each Unit will consist of one Share and one share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one additional Share at a price of $0.18 per Share for a period of three years from closing. Insiders may participate in the Financing. Finders’ fees may be payable in connection with the Financing in accordance with the policies of the TSX Venture Exchange (the “Exchange”). All securities issued in connection with the Financing will be subject to a statutory hold period expiring four months and one day after closing of the Financing. Completion of the Financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange. The proceeds of the Financing will be used for working capital purposes. Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange, and is in the process of recommencing mill feed processing operations at its 100% owned state-of-the-art mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold producers. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes. The Company also owns 100% of Treasure Mountain, its high grade silver property, and a gravel pit,...

Nicola Mining Commences Shipping of Gold and Silver Concentrates

TSX.V: NIM NEWS RELEASE   VANCOUVER, B.C., August 9, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has commenced shipping of concentrate and entered into an offtake agreement (the “Agreement”) with MRI Trading Ag. (the “Buyer”), a company headquartered in Switzerland and a subsidiary of CWT Group, a leading global logistics and commodity marketing company. CWT Group employs approximately 6,000 people and has sales of approximately $10.0 BN annually. During the week August 1 through August 6, 2016, the Company shipped 111.28 metric tonnes (104 dry metric tonnes based on average moisture content of 6.56%) of concentrate to the Buyer’s warehouse for final sale. The Company engaged ISO 17025 accredited ALS Environmental to conduct 70 analyses of the concentrate prior to shipping. Average grading of the 104 dry tonnes concentrate was 3.243 ounces Au and 18.1 ounces Ag, for an approximate 337 ounces Au and 1877 ounces Ag. Final grades confirmation will occur after processing from the smelter. The Company will continue to ship concentrate during the week starting August 8, 2016. The material currently being processed by the Company is from Gavin Mines Inc. (“Gavin Mines”). Terms of the Milling and Profit Share Agreement (the “GMI Agreement”) were announced in the Company’s news release of May 31, 2016.   Under the GMI Agreement, the Company will produce both gravity and flotation concentrates that will be sold to third parties for production of gold doré bars. The Company and Gavin Mines expect to ship an additional 1000 – 1500 tonnes of material that is located near Dome Mountain Mine upon receipt of the First Payment....