NIM.V · 2020-05-04 12:00:00

Nicola Mining Announces Non-Brokered Private Placement of Secured Convertible Debentures

Financings Debt & Credit Facilities

NOT

TSX.V: N

NIC

VANCO

a non-br

$250,000

The a ggr

debentur

Insiders

terms:

 th

All secur

expiring

subject t o

insiders i

61-101 -

expected

requirem

T FOR DIST

NIM

COLA MINI

OUVER, BC,

okered priv

of secured c

regate gross

res of $250,0

may also p

he minimu m

Offering will

he Debentu r

ayable annu

ption of the

he Debentur

nd the pri n

nterest shall

he principa l

Maturity Dat

he repa yme

ecured again

rities issued

four month

o the appr o

in the Offeri

Protection o

d t o b e e x e

ments of MI 6

TRIBUTION

DISSEM

ING ANNO

SECUR

May 4, 2020

vate placem e

convertible d

s proceeds

00.

articipate i n

m a ggregate

be $250,000

res shall be a

ually, in cash

Company;

res will matu

ncipal amou n

be payable o

l amount o f

e, at the opti

nt of the o

nst the assets

in connecti

hs and one d

oval of the T

ing will cons

of Minorit y

empt from

61-101.

N TO UNIT

MINATION

OUNCES NO

RED CONV

0 – Nicola M

ent (the “Off

debentures (

from the s a

n the Offeri n

e principal a

;

ar interest a

h or in comm

ure three yea

nt of the D

on the Matu

f the Debe n

ion of the ho

outstanding

s of the Com

ion with th e

day after cl o

TSX Ventur e

stitute a rela

Security H o

the form a

ED STATES

IN THE UN

ON-BROKE

VERTIBLE D

Mining Inc. (

fering”) of u

(the “Deben

ale o f the O

ng. The De b

amount of t

t a rate of 1

mon shares (

ars after the

Debentures, t

urity Date;

ntures shall

older, at a co

principal a

mpany.

e Offering w

osing of the

e Exchange

ated party tr

olders in S pe

al valuatio n

S NEWSWIR

NITED STA

ERED PRIVA

DEBENTUR

(the “Compa

up to an a g

ntures”) of th

Offering wil

bentures wi l

the Debent u

10% per an n

(each, a “Sh

e date of iss u

together wi

be converti b

onversion pr

and interest

will be sub jec

Offering. C

(the “ Excha

ransaction un

ecial Transa c

n and min o

RE SERVIC

ATES

ATE PLACE

RES

any”) is plea

ggregate prin

he Company

l be used t

ll include t h

ures issued

num, which

hare”) of the

uance (the “M

th an y acc r

ble into Sh a

rice of $0.10

of the De b

ct to a stat u

Completion o

ange”). An y

nder Multila

ctions (“ MI

ority share h

CES OR FOR

EMENT OF

ased to anno

ncipal amou

to repa y ex i

he followin g

pursuant t o

interest sh a

Company, a

Maturity Da

rued and u n

ares prior t o

per Share; a

bentures w i

utory hold p

of the Offer i

participatio

ateral Instru

61-101”) b

holder ap p

ounce

unt of

isting

g ke y

o the

all be

at the

ate”),

npaid

o the

and

ill be

eriod

ing is

on b y

ument

but is

proval

None of the securities sold in connection with the Offering will be regi stered 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.

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information contact:

Peter Espig

Telephone: (604) 647-0142

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 stat ements” under applicable Canadian securities legislation

that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could

cause actual results, performance, prospects, and opport unities 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 manageme nt 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 Offe ring, and Exchange approval of the proposed Offering.

Although the Company believes that the expectations reflected in the fo rward-looking information are reasonable,

there can be no assurance that such expectations will prove to be correct. Such forwar d-looking statements are

subject to risks and uncertainties that may cause actual r esults, performance or developments to differ materially

from those contained in the statemen ts including that: the Company may no t 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 Company may be unable to satisfy all of the conditions to the Closing; and

those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the

Company believes that the assumption s and factors used in preparing the forward-looking statements are

reasonable, undue reliance should not be placed on these stat ements, which only apply as of the date of this news

release, and no assurance can be given th at such events will occur in the disc losed time frames or at all. Except

where required by law, the Company disc laims any intention or obligation to update or revise any forward-looking

statement, whether as a result of new information, future events, or otherwise.

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