Nicola Mining Announces Completion of Flow Through Financing and Grant of Stock Options

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C., December 14, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that it has completed its non-brokered private placement (the “Financing”) as further described in its news release of December 2, 2016. In connection with the closing of the Financing, the Company sold an aggregate of 3,500,000 units (each, a “Unit”) at a price of $0.20 per Unit for gross proceeds of $700,000. Each Unit consists of one common share of the Company (each, a “Share”), issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) and one-half of one transferable common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to acquire one common share of the Company (each, a “Warrant Share”) at a price of $0.35 per Warrant Share for a period of three years from the closing of the Financing. The Company paid cash finder’s fees of $45,500 and issued 227,500 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. An Insider of the Company was issued 375,000 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 the insider 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...

Nicola Mining Announces Flow Through Financing

TSX.V: NIM NEWS RELEASE VANCOUVER, B.C. December 2, 2016 – Nicola Mining Inc. (the “Company”) is pleased to announce that it will be conducting a flow-through financing pursuant to which the Company will issue up to 3,500,000 flow-through units (each, a “Flow-Through Unit”) at a price of $0.20 per Flow-Through Unit for gross proceeds of up to $700,000 (the “Offering”). Each Flow-Through Unit will consist of one common share of the Company (each, a “Flow-Through Share”), issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) and one-half of one transferable common share purchase warrant (each whole warrant, a “Flow-Through Warrant”), with each Flow-Through Warrant entitling the holder to acquire one common share of the Company (each, a “Warrant Share”) at a price of $0.35 per Warrant Share for a period of three years from the closing of the Offering. Finders’ fees may be payable in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the “Exchange”). All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange. The aggregate gross proceeds from the sale of the Offering will be used for further exploration on its wholly-owned Thule Project, which covers an area of 10,084 hectares along the southern end of the Guichon Batholith and is adjacent to Teck Resources Ltd.’s Highland Valley Copper, Canada’s largest copper mine. In its news release...