Nicola Mining Announces Debt Settlement
TSX.V: NIM
FSE: HLIA
OTCQB: HUSIF
NICOLA MINING ANNOUNCES DEBT SETTLEMENT
VANCOUVER, B.C., December 18, 2024 – Nicola Mining Inc. ( TSX.V: NIM ) (FSE: HLIA ) ( OTCQB:
HUSIF), (the “Company” or “Nicola”) announces that it intends to pa y all of the intere st owing on the
secured convertible debentures (the “ Debentures”) issued on November 21, 2019 by the issuance of
common shares (each, a “ Share”) of the Company. The Debentures mature on November 21, 2025 and
bear interest (“ Interest”) at a rate of 10% per annum, which In terest is payable under the terms of the
Debentures annually, at the option of the Company, in cash or by the issuance of Shares.
The Company intends on paying all of the Interest in Shares to holders of the Debentures to settle the
outstanding interest payment obligation for the fifth year of the term of the Debentures.
Accordingly, the Company intends to issue 1,469,935 Shares at a price of $0.28 per Share in settlement of
Interest owing of $411,583.10 (the “Debt Settlement”).
An Insider of the Company will be issued 1,392,856 Sh ares pursuant to the Debt Settlement, which will
constitute a “related party tr ansaction” within the meaning of Multilateral Instrument 61-101 Protection
of Minority Security Hold ers in Special Transactions (“MI 61-101”). The intended issuance to the insider is
exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section
5.5(b) as the Company’s 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 sect ion 5.7(a) of MI 61-101
in that the fair market value of the consideration of the Shares to be issued to the related party will not
exceed 25% of the Company’s market capitalization. The Company will close on the payment of the
Interest in Shares in less than 21 days as the payment of Interest is due pursuant to the terms of the
Debentures.
The Debt Settlement is subject to TSX Venture Exch ange approval. The Shares will be subject to a
statutory hold period expiring on the date that is fo ur months and one day after the closing of the Debt
Settlement.
About Nicola Mining
Nicola Mining Inc. is a junior mining company lis ted 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 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]
Forward-Looking Information
Certain statements in this press release related to the Debt Settlement and the securities issuable thereunder are
forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about future events, and are therefore subject to risks and
uncertainties which could cause actual results to differ ma terially from the future resu lts expressed or implied by
the forward-looking statements. These statements generally can be ident ified by the use of forward-looking words
such as “may”, “should”, “will”, “could”, “intend”, “est imate”, “plan”, “anticipate”, “expect”, “believe” or
“continue”, or the negative thereof or similar variations. F orward-looking statements in this news release include
statements regarding the settlement of the Interest, resale restrictions relating to the securities to be issued and
receipt of the approval of the TSX Venture Exchange. Such statements are qualified in their entirety by the inherent
risks and uncertainties surrounding the Company’s ability to complete the Debt Settlement, including the risk that
the Debt Settlement may not be completed as expected or at all, that the TSX Venture Exchange may not approve
the Debt Settlement and such other factors beyond the co ntrol of the Company. Such forward looking statements
should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly
disclaims any intention or obligation, to update or revise any forward looking statements, whether as a result of
new information, future events or otherwise. Neither th e 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.
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.