VANCOUVER, B.C., June 25, 2018 – Nicola Mining Inc. (the “Company”) announces that, subject to regulatory approval, it has arranged a non-brokered private placement financing (the “Financing”) of up to 10,000,000 units (each, a “Unit”) at a price of $0.15 per Unit for gross proceeds of up to $1,500,000. Each Unit will consist of one common share (each, a “Share”) and one-half of one share purchase warrant (each whole warrant, 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 two 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”).
Proceeds of the Financing are planned to be used to repay senior secured debt of approximately $1,350,000 and the balance for working capital purposes.
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. Red Cloud Klondike Strike Inc. is acting as a finder in connection with the Offering.
Nicola Mining Inc. is a junior mining company listed on the 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 can process both gold and silver mill feed via gravity and flotation processes. The Company also owns 100% of Treasure Mountain, its high-grade silver property, and an active gravel pit that is located adjacent to its milling operations.
On behalf of the Board of Directors
CEO & Director
For additional information contact:
Telephone: (778) 385-1213
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.