NIM.V · 2018-04-23 12:00:00

Nicola Mining Announces Proposed Amendments to Subordinated Secured Convertible Debentures

Financings Debt & Credit Facilities

TSX.V: N

NEWS RE

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NIM

ELEASE

OLA MINING

UVER, B.C

e s t h a t i t in

“Debentur

ers as prev i

ay 19, 2015 a

y also issu e

nt”), with e a

) at an exer c

bentures m

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suance of S h

entures are

er Share at an

mpany intend

he Conversi o

hare;

he Maturity

he exercise

onversion i n

rading days.

r terms of t

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the subscri b

is considere

n of Minority

ore considere

ment, howe v

der approv a

5.5(b) as no

01 in that n e

ment exceede

s than 21 da y

e the Amend

G ANNOUN

SECUR

., April 23 ,

ntends to a m

re”) in the

iously anno u

and Ma y 2 0

ed 250,000

ach Warrant

cise price of

mature on

rate of 10% p

hares at a p r

also convert

ny time, and

ds to make th

on Price of

Date will be

price of t h

n the event

the Debent u

he “Exchang

bers, Peter E

ed a “relate d

y Security Ho

ed to be a “r

ver, is exe m

al require m

securities o

either the th

d 25% of the

ys before the

dment in a ti

NCES PROP

RED CONV

, 2018 – N

mend (the “

aggregate

unced in it s

0, 2015. In c o

non-transfe

exercisabl e

$0.375 until

May 20, 2

per annum,

rice per Sha r

tible into S h

d from time

he following

the Debent u

e extended fr

he Warrants

that the Sh a

ures will re m

ge”) approv

Espig, the C

d party” wi

olders in S pec

related party

mpt from t h

ments of MI

of the Comp a

e fair mark e

e Company’

e Amendme

imely manne

POSED AM

VERTIBLE D

Nicola Mini n

“Amendmen

principal a

s News Rel e

onnection w

erable com m

e into one c o

l May 20, 2 0

2018 (the

which Inter

re equal to t

hares a conv e

to time, unti

g amendmen

ures be red u

rom May 20

be reduce d

ares trade a b

main the sa m

al.

Company’s

ithin the m e

cial Transacti

y transaction

he valuatio n

61-101 b y

any are list e

et value of t

’s market cap

ent being ap

er.

MENDMENT

DEBENTUR

ng Inc. (th e

nt”) the sec u

amount of

eases of N o

with the iss u

mon share p

ommon sh a

016 and at $

“Maturity

rest is payab

the market p

ersion price

il the Matur

nts to the De

uced from $

0, 2018 to Ma

d from $0. 5

bove $0.34 7

me. The A m

President, C

eaning of M u

ions (“MI 61

n” within the

n requirem e

virtue of t h

ed on a spe c

the amend m

pitalization.

pproved beca

TS TO SUBO

RES

e “ Company

ured conve r

$250,000 i s

ovember 24,

uance of th e

purchase w

are of the C

$0.50 per Sh a

Date”) a n

ble as to 50%

price at the

(the “ Conv

ity Date.

ebentures:

$0.275 per S h

ay 20, 2020; a

50 to $0.27 5

75 for at lea s

mendment i

Chief Exec u

ultilateral In

1-101”) and

e meaning o

ent and fr o

he exempti o

cified marke

ment or con s

. This News

ause the Com

ORDINATE

y” or “ Nic

rtible debe n

ssued to c e

2014, Au gu

e Debenture s

warrants (ea

ompany (e a

are until M a

nd bear in t

% in cash and

time of iss u

version Price

hare to $0.2

and

5, with a f o

st 10 conse c

is sub ject t o

utive Office r

nstrument 6

the Amend

of MI 61-101.

om the mi n

ons contain e

et and 5.7(1)

sideration fo

s Release is b

mpany wish

cola”)

ntures

ertain

ust 8,

s, the

ch, a

ach, a

ay 20,

terest

d 50%

uance.

e”) of

2 per

orced

cutive

o TSX

r and

1-101

dment

. The

nority

ed in

(a) of

or the

being

hes to

On behalf of the Board of Directors

“Peter Espig”

Peter Espig

CEO & Director

For additional information

Contact: (604) 647-0142 or [email protected]

Disclaimer for Forward-Looking Information

This news release contains forward-l ooking information that involve variou s risks and uncertainties regarding

future events. Such forward-looking information can incl ude without limitation statements based on current

expectations involving a number of risks and uncertainties and are not guarantees of future performance of Nicola,

such as statements that Nicola intends to amend th e terms of the Debenture. There are numerous risks and

uncertainties that could cause actual results and Nicola’s plans and objectives to differ materially from those

expressed in the forward-looking information, including: (i) adverse market conditions; or (ii) the Exchange not

approving the Amendment. Actual results and future events could differ materia lly from those anticipated in such

information. These and all subsequent written and oral forward-looking information are based on estimates and

opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.

Except as required by law, Nicola does not intend to update these forward-looking statements.

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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