Nicola Mining Announces Flow-Through Share Private Placement
TSXV: NIM
NICOLA MINING ANNOUNCES FLOW-THROUGH SHARE PRIVATE PLACEMENT
VANCOUVER, BC, October 1 1, 2021 – Nicola Mining Inc. ( TSX.V: NIM ) (FSE: HLI ), (the
“Company” or “Nicola”) is pleased to announce a non-brokered private placement consisting of
4,375,000 flow-through shares (“ FT Shares ”) at a price of $0.12 per FT Share for gross
proceeds of $525,000 (the “Offering”).
Each share of the Company will be issued on a “flow-through” basis pursuant to the Income Tax
Act (Canada) and in accordance with the policies of the TSX Venture Exchange (the
“Exchange”).
All securities issued in connection with the Offering will be subject to a statutory hold period
expiring four months and one day after closing of the Offering. Completion of the Offering is
subject to the approval of the Exchange. Any participation by ins iders in the Offering will
constitute a related party transaction under Multilateral Instrument 61 -101 - Protection of
Minority Security Holders in Special Transactions (“MI 61 -101”) but is expected to be exempt
from the formal valuation and minority shareholder approval requirements of MI 61-101.
The aggregate gross proceeds from the Offering are expected to be used for further exploration
on the Company’s wholly-owned New Craigmont and Treasure Mountain Properties.
Nicola also hopes to utilize operational cashflows towards additional explorations costs during
2022.
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 TSX Venture 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 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 10,084 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 29 mineral tenures
covering 2178 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.
Cautionary Statement Regarding Forward-Looking Statements
This news release includes certain “forward -looking statements” under applicable Canadian securities legislation
that are not historical facts. Forward -looking statements involve risks, uncertainties, and other factors that could
cause actual results, perf ormance, prospects, and opportunities to differ materially from those expressed or implied
by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to,
statements with respect to the expectations of m anagement regarding the proposed Offering, the expectations of
management regarding the use of proceeds of the Offering, closing conditions for the Offering, the expiry of hold
periods for securities distributed pursuant to the Offering, and Exchange appro val of the proposed Offering.
Although the Company believes that the expectations reflected in the forward -looking information are reasonable,
there can be no assurance that such expectations will prove to be correct. Such forward -looking statements are
subject to risks and uncertainties that may cause actual results, performance or developments to differ materially
from those contained in the statements including that: the Company may not complete the Offering on terms
favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not
be used as stated in this news release; the funds raised from the sale of the Units may not be renounced in favour of
the Shareholders; the Company may be unable to satisfy all of the conditions to the Closing; and t hose additional
risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company
believes that the assumptions and factors used in preparing the forward -looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by
law, the Company disclaims any intention or obligation to update or revise any forward -looking statement, whether
as a result of new information, future events, or otherwise.