Nicola Mining Announces Prepayment of Convertible Debentures
Nicola Mining Announces Prepayment of
Convertible Debentures
Vancouver, British Columbia--(Newsfile Corp. - December 29, 2023) - Nicola Mining Inc. (
TSXV: NIM
)
(
FSE: HLI
)
(OTCQB: HUSIF
), (the "
Company
" or "
Nicola
") announces that it has agreed with certain
debenture holders to prepay 22% of the current principal amount of $5,296,706 (the "
Principal
Prepayment Amount
") of certain convertible debentures (each, a "
Debenture
") maturing on
November 21, 2025 (the "
Maturity Date
"), pay a prepayment premium of 10% of the Principal
Prepayment Amount and prepay interest (the "
Prepayment of Interest Amount
") on the Debentures to
the Maturity Date.
The Company intends to pay an aggregate of $1,165,275 in Principal Prepayment
Amount, an aggregate of $116,527.50 in Prepayment Premium Amount and an aggregate of $233,055
in Prepayment Interest Amount, leaving a balance of an aggregate of $4,131,431 in Debentures.
This marks the second prepayment of outstanding debenture obligations, as the Company previously
announced, on July 12, 2022, the prepayment of $1,329,176 of the principal and $81,936 in accrued
interest.
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 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 2,178 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:
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.
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https://www.newsfilecorp.com/release/192656