Nicola Mining Closes Flow-Through Financing
NOT T FOR DIST TRIBUTION N TO UNITED STATES S NEWSWIR RE SERVIC CES OR FOR R DISSEM MINATION IN THE UN NITED STA ATES
TSX.V: N NIM
NICO OLA MININ NG CLOSES S FLOW-TH HROUGH F FINANCING G
VANCOU
UVER, BC, December 19, 2019 – N Nicola Mini ing Inc. (the e “Company y”) is please ed to announce e that, furthe er to its New ws Release of December 13 3, 2019, that it has closed d its flow-thr rough private p placement fin nancing (the “Offering”)
) pursuant to
- which it so old an aggre egate of 3,52 20,000
common shares (each h, a “Share”), at a price o of $0.10 per S Share, for gro oss proceeds s of $352,000. . The Offering was oversub bscribed by $ $2,000. Each Share was is ssued on a “ “flow-through” basis pur rsuant to the Inc come Tax Act (Canada).
The Com mpany paid ca ash finder’s f fees of $24,29 90.
All securities issued i in connection n with the O Offering are s subject to a s statutory hold period exp piring April 19, 2020.
An inside er of the Com mpany acquir red 50,000 Sh hares in the O Offering whi ich constituted a related party transactio on under Mu ultilateral In nstrument 61-101 - Protec ction of Mino ority Security Holders in S Special Transactio ons (“MI 61-1 101”). The is ssuance to th he insider is e exempt from m the valuatio on requireme ent of MI 61-101 1 by the virtu ue of the exem mption conta ained in secti ion 5.5(b) as the Compan ny’s shares ar re not listed on a specified m market and f from the min nority shareh holder approv val requirem ments of MI 6 61-101 by virtue e of the exem mption contai ined in Secti ion 5.7(1)(a) as the value e of the Share es did not ex xceed 25% of th he Company’s market cap pitalization.
The aggregate gross p proceeds fro om the sale o of the Offerin ng will be us sed for furth her exploratio on on the Comp pany’s wholly-owned New Craigmo ont Property, , which cove ers an area o of 10,084 hec ctares along the e southern en nd of the Gu uichon Bathol lith and is ad djacent to Te eck Resource es Ltd.’s High hland Valley Co opper, Canad da’s largest copper mine.
None of the securitie es sold in con nnection wit th the Offerin ng are regist tered under the United S States Securities s Act of 1933 3, as amended, and no such securiti ies may be o offered or so old in the U United States abs sent registrat tion or an ap pplicable exe emption from m the registra ation require ements. This news release sh hall not const titute an offe er to sell or th he solicitatio on of an offer r to buy nor shall there b be any sale of the e securities in n any jurisdi iction in whic ch such offer r, solicitation n or sale woul ld be unlawf ful.
The Company has received a 30-day extension from the TSX Venture Exchange to close its convertible debenture financing announced on November 13, 2019.
On behalf of the Board of Directors
“Peter Espig”
Peter Espig CEO & Director
For additional information contact:
Peter Espig Telephone: 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.