Nicola Mining Announces Closing of Amendments to Subordinated Secured Convertible Debentures in the Principal Amount of $330,000
TSXV: NIM
NICOLA MINING ANNOUNCES CLOSING OF AMENDMENTS TO SUBORDINATED SECURED CONVERTIBLE DEBENTURES IN THE PRINCIPAL AMOUNT OF $330,000
VANCOUVER, BC, January 6, 2023 – Nicola Mining Inc. (TSX.V: NIM) (FSE: HLI) (OTCQG: HUSIF), (the “Company” or “Nicola”) is pleased to announce that it has completed the amendments to the secured convertible debentures (each, a “Debenture”) by issuing Amended and Restated Convertible Debenture Certificates in the aggregate principal amount of $330,000 to certain holders.
The maturity date of the Debentures has been extended from January 9, 2023 to January 9, 2025 The Company also amended the Debentures to permit the Company to prepay all or any portion of the outstanding principal of the Debenture, and accrued and unpaid interest thereon, at its sole discretion without penalty or bonus. In all other respects, the terms of the Debentures remain the same.
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 10,913 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: [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.