Nicola Mining Announces Closing of Amendments to Subordinated Secured Convertible Debentures
TSXV: NIM
NICOLA MINING ANNOUNCES CLOSING OF AMENDMENTS TO SUBORDINATED
SECURED CONVERTIBLE DEBENTURES
VANCOUVER, BC, December 6, 2022 – 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 November 29, 2022, it has completed the am endments to the secured convertible debentures
(each, a “Debenture”) by issuing Amended and Restated Convertible Debenture Certificates in
the aggregate principal amount of $5,613,706 to certain holders.
The Debentures mature on November 21, 2025 and be ar interest at the rate of 10% per annum.
The Debentures are convertible into co mmon shares of the Company (each a “ Share”) at a
conversion price (the “Conversion Price”) of $0.085 per Share for the period from November 21,
2022 to November 21, 2023 and $0.10 thereafter unless the Company completes a consolidation,
then the Conversion Price shall be equal to $0. 085 multiplied by the consolidation ratio subject
to a minimum Conversion Price of $0.10. The Company is permitted to prepay all or any
portion of the outstanding principal of the Debe nture, and accrued and unpaid interest thereon,
at its sole discretion without penalty or bonus.
An insider of the Company is the beneficial ow ner of Debentures in the aggregate amount of
$4,687,500, which constituted a related party transaction under Multilateral Instrument 61-101 -
Protection of Minority Security Holders in Special Transactions (“MI 61-101 ”). The issuance to the
insider is exempt from the valuation requiremen t of MI 61-101 by the virtue of the exemption
contained in section 5.5(b) as the Company’s sh ares are not listed on a specified market and
from the minority shareholder approval requireme nts of MI 61-101 by virtue of the exemption
contained in Section 5.7(1)(a) as the value of the Debentures did not exceed 25% of the
Company’s market capitalization.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchanges
that maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. It
has signed Mining and Milling Profit Share Agreem ents with high grade gold projects. Nicola’s
fully-permitted mill can process both gold an d silver mill feed via gravity and flotation
processes.
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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 Mounta in 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 it s 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.