Nicola Mining Announces Closing of Non-Brokered Private Placement
TSXV: NIM
NICOLA MINING ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT
VANCOUVER, BC, January 13, 2023 – Nicola Mining Inc. (TSX.V: NIM) (FSE: HLI) (OTCQG: HUSIF), (the “Company” or “Nicola”) is pleased to announce that, further to its News Release of January 10, 2023, it has closed the non-brokered private placement pursuant to which it has issued an aggregate of 16,000,000 shares (each, a “Share”) at a price of $0.125 per Share for gross proceeds of $2,000,000 (the “Offering”).
All securities issued in connection with the Offering are subject to a statutory hold period expiring four months and one day from the date of closing of the Offering.
The Company did not pay any finder’s fees in connection with the Offering.
The aggregate gross proceeds from the sale of the Offering will be used for general working capital, which may include exploration, repayment of outstanding debentures and share repurchase.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchange that maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. It has signed Mining and Milling Profit Share Agreements with high grade gold projects. Nicola’s fully-permitted mill can process both gold and silver mill feed via gravity and flotation processes.
The Company owns 100% of the New Craigmont Project, a high-grade copper property, which covers an area of 10,913 hectares along the southern end of the Guichon Batholith and is adjacent to Teck Resources Ltd.’s Highland Valley Copper, Canada’s largest copper mine. The Company also owns 100% of the Treasure Mountain Property, consisting of 30 mineral tenures covering 513 hectares (ha) and a mining lease covering 335 ha.
On behalf of the Board of Directors
“Peter Espig”
Peter Espig CEO & Director
For additional information
Contact: Peter Espig Phone: (778) 385-1213 Email: [email protected]
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.