Nicola Mining Announces Normal Course Issuer Bid
Nicola Mining Announces Normal Course
Issuer Bid
Vancouver, British Columbia--(Newsfile Corp. - March 10, 2023) - Nicola Mining Inc. (
TSXV: NIM
)
(
FSE: HLI
)
(OTCQB: HUSIF)
, (the "
Company
" or "
Nicola
") is pleased to announce that the TSX
Venture Exchange ("
TSXV
") has accepted its Notice of Intention to Make a Normal Course Issuer Bid
("
NCIB
") which shall commence on March 15, 2023 and terminate on August 15, 2023, or such earlier
date if the maximum number of shares are purchased.
At the opening of the stock market on today's date, the Company is expected to have 314,152,672
common shares (each, a "
Share
") issued and outstanding.
Under the NCIB, the Company may acquire
up to an aggregate of 4,000,000 Shares over the next 5-month period, representing approximately
1.27% of the issued and outstanding Shares.
The Company believes that Share purchases pursuant to the NCIB will contribute to the facilitation of an
orderly market and be in the best interests of the Company and its shareholders.
In the event that the
Company believes that its Shares begin trading in a price range that does not adequately reflect their
underlying value based on the Company's business prospects and strong financial position, the
Company may purchase Shares pursuant to the NCIB.
Depending upon future price movements and
other factors, the Company believes that its outstanding Shares represent an attractive investment and a
desirable use of a portion of its corporate funds.
Purchases subject to this NCIB will be carried out pursuant to open market transactions through the
facilities of the TSXV and any other available markets and alternative trading systems in Canada by
Canaccord Genuity Corp. on behalf of the Company in accordance with applicable regulatory
requirements.
All Shares purchased by the Company under the NCIB will be returned to treasury and
cancelled.
To the knowledge of the Company, no director, senior officer or other insider of the Company currently
intends to sell any Shares under this NCIB.
However, sales by such persons through the facilities of the
TSXV or any other available market or alternative trading system in Canada may occur if the personal
circumstances of any such person change or if any such person makes a decision unrelated to these
normal course purchases.
The benefits to any such person whose Shares are purchased would be the
same as the benefits available to all other holders whose Shares are purchased.
US Disclaimer
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the
United
States Securities Act of 1933,
as amended (the "
U.S. Securities Act
"), or any state securities laws and
may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as
defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
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 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 Mountain 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:
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain "forward-looking statements" within the meaning of applicable
Canadian securities laws, including, without limitation, the expectation that the Company will conduct
a NCIB and purchase the up to the maximum number of Shares and within the timeframe all as
described in this news release.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by management, are inherently subject
to significant business, economic and competitive uncertainties, and contingencies.
These
statements generally can be identified by the use of forward-looking words such as "may", "should",
"will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the
negative thereof or similar variations.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause future results, performance or achievements to be
materially different from the estimated future results, performance or achievements expressed or
implied by those forward-looking statements and the forward-looking statements are not guarantees of
future performance.
The Company's statements expressed or implied by these forward-looking
statements are subject to a number of risks, uncertainties, and conditions, many of which are outside
of the Company's control, and undue reliance should not be placed on such statements.
Forward-
looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding
the NCIB, including: that the Company's assumptions in making forward-looking statements may
prove to be incorrect; adverse market conditions; risks inherent in the natural resource sector in
general; that future results may vary from historical results; and that market competition may affect the
outcome of the business, results and financial condition of the Company.
Except as required by
securities law, the Company does not assume any obligation to update or revise any forward-looking
statements, whether as a result of new information, events or otherwise.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
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https://www.newsfilecorp.com/release/158003