Nicola Mining Announces Closing Of The Second Tranche Of Unit Financing

TSX.V: NIM
NEWS RELEASE

VANCOUVER, BC, September 4, 2019 – Nicola Mining Inc. (the “Company”) announces that, further to its News Release of June 28, 2019 and August 19, 2019, it has completed a second tranche of its private placement financing (the “Financing”) pursuant to which it sold an aggregate of 750,000 units (each, a “Unit”), at a price of $0.10 per Unit, for gross proceeds of $75,000.  The Company has raised total proceeds of $525,000 from the closing of the first and the second 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 January 4, 2020.

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