Nicola Mining Announces Non-Brokered Private Placement With Strategic Mining Investment Group

TSX.V: NIM NEWS RELEASE June 28, 2019, Vancouver, BC – Nicola Mining Inc. (the “Company”) is pleased to announce a non-brokered private placement anchored by an international mining investment group (the “Investors”) that has set up a Canadian subsidiary for the investment.  Insiders will also participate in the private placement, which will consist of the issuance of up to 7,000,000 units (each, a “Unit”) at a price of $0.10 per Unit for gross proceeds of up to $700,000 (the “Offering”).  Insiders may also participate in the Offering. The Investors have affiliated mining operations in both Africa and Asia and are long-term investors. Each Unit will consist of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to purchase one Share at a price of $0.15 per Share for a period of two years following the closing of the Offering (the “Closing”). 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 the approval of the TSX Venture Exchange (the “Exchange”). Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The aggregate gross proceeds from the sale of the Offering will be used for general working capital. None of the securities...