Nicola Mining Announces Proposed Extension to Maturity Date of Subordinated Secured Convertible Debentures
TSXV: NIM
NICOLA MINING ANNOUNCES PROPOSED EXTENSION TO MATURITY DATE OF
SUBORDINATED SECURED CONVERTIBLE DEBENTURES
VANCOUVER, BC, December 19, 2022 – Nicola Mining Inc. ( TSX.V: NIM ) (FSE: HLI )
(OTCQG: HUSIF) , (the “ Company” or “ Nicola”) is pleased to announ ce that it intends to
extend (the “ Extension”) the maturity date of the secured convertible debentures (each, a
“Debenture”) in the aggregate principal amount of $350,000 issued on January 9, 2020 to certain
subscribers (the “ Holders”), pursuant to a private placement accepted by the TSX Venture
Exchange (the “ Exchange”) on January 13, 2020. On August 4, 2020 and August 13, 2020, one
Holder converted his Original Debenture in the aggregate amount of $20,000, leaving an
aggregate principal amount of $330,000.
The Debentures mature on January 9, 2023 (the “ Maturity Date ”) and bear interest (the
“Interest”) at a rate of 10% per annum, which Interest is payable, at the option of the Company,
in cash or by the issuance of common shares of the Company (each, a “ Share”) at a price per
Share equal to the market price of the at th e time of issuance. The Debentures are also
convertible into Shares a conversion price of $0.10 per Share at any time, and from time to time,
until the Maturity Date.
The Company wishes to extend the Maturity Date from January 9, 2023 to January 9, 2025.
The Company also has the right to prepay all or any portion of the outsta nding principal of the
Debenture, and accrued and unpaid interest thereon, at its sole discretion without penalty or
bonus.
The Extension is subject to Exchange approval.
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 Agreem ents with high grade gold projects. Nicola’s
fully-permitted mill can process both gold an d 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 Va lley Copper, Canada’s largest copper mine. The
Company also owns 100% of the Treasure Mounta in 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: [email protected]
Neither the TSX Venture Exchange nor it s 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.
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 extend the Maturity Date of the Debenture. There are numerous risks and
uncertainties that could cause actual results and Nicola’s plans and objectives to d iffer materially from those
expressed in the forward-looking information, including: (i) adverse market conditions; or (ii) the Exchange not
approving the Extension. Actual results and future events could differ materially 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.