Nicola Mining Annoucnes Closing of Non-Brokered Private Placement
TSX.V: NIM
FSE: HLIA
OTCBB: HUSIF
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NICOLA MINING ANNOUCNES CLOSING OF NON-BROKERED PRIVATE PLACEMENT
VANCOUVER, B.C, January 29, 2026, - Nicola Mining Inc. (the “Company” or “Nicola Mining”)
is pleased to announce that, further to its News Releases of January 13, 2026 and January 22,
2026, it has completed it non-brokered private placement (the “ Offering”), whereby it issued
5,512,001 units (each, a “Unit”) at a price of $0.90 per Unit for gross proceeds of $4,960,800.
The Offering was oversold by $60,800.
Each Unit will consist of one common share of the Company (each, a “ Share”) and one
transferable common share purchase warrant (each, a “ Warrant”), with each Warrant entitling
the holder to purchase one Share at a price of $1.10 per Share for a period of three years
following the closing of the Offering (the “Closing”), provided that the expiry of the Warrants can
be accelerated if the closing price of the Company’s common shares on the TSX Venture
Exchange (the “Exchange”) is $1.70 or greater for a minimum of ten consecutive trading days,
and a notice of acceleration is provided in accordance with the terms of the Warrants.
All securities issued in connection with the Offering are subject to a statutory holding period
expiring four months and one day after closing of the Offering. An insider of the Company
participated
William Cawker, the Corporate Secretary of t he Company, subscribed for a total of 50,000 Units
under the Offering, which is a “related party transaction” within the meaning of Multilateral
Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”).
The issuance to Mr. Cawker is exempt from the valuation requirement of MI 61-101 by virtue of
the exemption contained in section 5.5(b) as the Shares are not listed on a specified market and
from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption
contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the
Shares to be issued to Mr. Cawker does not exceed 25% of the Company’s market capitalization.
The aggregate gross proceeds from the Offering will be used for improvement of the Merritt mill,
general operations, and corporate working capital.
Such use of proceeds may include, but is not limited to, the purchase and installation of milling
equipment to expand processing capacity to approximately 500 tonnes per day, the addition of
a secondary ball mill, supplementary cleaner flotation cells, and associated pumping
infrastructure. Any remaining equipment requirements may be met through the refurbishment
and recommissioning of existing plant and machinery. In addition, spare bowl and mantle
assemblies may be procured to support routine crusher maintenance and ensure ongoing
operational reliability.
None of the securities sold in connection with the Offering will be registered under the United
States Securities Act of 1933, as amended, and no such securities may be offered or sold in the
United States absent registration or an applicable exemption from the registration requirements.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful.
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 over 10,800 hectares along the southern end of the Guichon Batholith and is
adjacent to Highland Valley Copper, Canada’s largest copper mine. The Company also owns
100% of the Treasure Mountain Property, which is a fully-permitted high grade silver mine and
includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.
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]
URL: www.nicolamining.com
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.