Nicola Mining Repays Senior Secured Debt To Waterton And Closes Tranche One Of Financing

TSX.V: NIM NEWS RELEASE November 27, 2018, Vancouver, BC – Nicola Mining Inc. (the “Company” or “Nicola”) is pleased to announce that it has repaid its entire senior secured debt obligation and interest to Waterton Global Value, LP (“Waterton”).  The Company paid Waterton $663,062 in principal and interest on the senior secured debt obligation, which was the final payment obligation to Waterton.  Waterton has also liquidated its equity position in Nicola. On November 24, 2014, the Company announced that it had completed $7.0 MM in debt financing (the “Debt Financing”) and implemented the announced restructuring of its debts and obligations under the Company’s Plan of Compromise and Arrangement dated August 8, 2014 (the “Plan”).  The repayment to Waterton is the final obligation under the Plan, as the Company successfully exited the Companies’ Creditors Arrangement Act of Canada on, as announced on December 9, 2015. The Waterton senior secured debt facility was the Company’s final obligation under the Plan and releases all security held by Waterton over the Company’s assets.  In addition to releasing security over all assets, Waterton releases its aggregate 2% net smelter returns royalty with respect to production from Nicola’s Treasure Mountain Silver Mine.  The 2% net smelter returns royalty transfers to the investors in the Debt Financing. Peter Espig, Chief Executive Officer commented, “The final repayment of Waterton’s senior secured debt facility marks one of the Company’s greatest milestones since I took the helm as CEO.  Management inherited a company with superior assets under great financial distress.  The ability to grow and increase the value of our assets can only be achieved by a total team...