Nicola Mining Announces Closing Of The First Tranche Of Unit Financing

TSX.V: NIM
NEWS RELEASE

VANCOUVER, BC, August 19, 2019 – Nicola Mining Inc. (the “Company”) announces that, further to its News Release of June 28, 2019, it has completed the first tranche of its private placement financing (the “Financing”) pursuant to which it sold an aggregate of 4,500,000 units (each, a “Unit”), at a price of $0.10 per Unit, for gross proceeds of $450,000.  The Company intends on completing additional tranches of the Financing.

Each Unit consisted of one common share (each, a “Share”) and one-half of one share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant is exercisable into one Share at a price of $0.15 per Share for a period of two years from the date of issuance. 

The Company did not pay any finder’s fees in connection with the Financing.

Proceeds from the Financing will be used for general working capital.

The securities issued under the Financing, and the shares that may be issuable on exercise of the Warrants, are subject to a statutory hold period expiring on December 20, 2019.

On behalf of the Board of Directors

Peter Espig”    
CEO & Director                             

For additional information contact:  

Peter Espig
Telephone: (604) 647-0142  
Email: peter@nicolamining.com