Nicola Mining Announces Closing of Non-Brokered Private Placement
TSX.V: N NIM
NICO OLA MINING G ANNOUN NCES CLOSIN NG OF NON N-BROKERED D PRIVATE P PLACEMENT T
VANCOU UVER, B.C., July 23, 2018 – Nicola Min ning Inc. (the “Company”)
) is pleased t to announce t that it has completed its non- -brokered pri ivate placeme ent financing (the “Financi ing”) as furth her described d in its news release of June 25 5, 2018. In con nnection with h the closing, the Company y sold an agg gregate of 9,33 33,329 units (eac ch, a “Unit”), at a price of $0.15 per Un nit, for gross p proceeds of $ $1,399,999.35. Each Unit co onsists of one com mmon share o of the Compa any (each, a “S Share”) and o one-half of on ne share purch hase warrant (each whole wa arrant, a “War rrant”). Each Warrant is ex xercisable into
- one additio onal Share at a a price of $0.1 18 per
Share for a period of tw wo years from m the date of i issuance.
Proceeds from the Fin nancing will be used to re epay outstan nding senior secured debt t of approxim mately $656,977.2 27, approxima ately 50% of the outstandi ing senior sec cured debt, a and for genera al working ca apital. The Comp pany has cont tacted the sen nior lender to discuss repay yment of the remaining po ortion.
The Com mpany paid cash finders f fees of $71,74 49.95 and iss sued 478,333 share purch hase warrants s (the “Finder’s Warrants”) to two finders in conne ection with c certain subscr riptions in th he Financing g. The Finder’s W Warrants have e the same ter rms as the Wa arrants.
xecutive Officer and a dir Peter Esp pig, the Presid dent, Chief Ex rector of the Company wa as issued 1,23 36,633 d a “related party transa Units und der the Fina ancing, which h constituted action” within n the meani ing of Multilater ral Instrumen nt 61-101 Prot tection of Mino ority Security H Holders in Spe ecial Transacti ions (“MI 61- -101”). The issua ance to the in nsider is exempt from th he valuation r requirement of MI 61-101 1 by virtue o of the res are not li exemption n contained i in section 5.5(b) as the Company’s shar isted on a spe ecified marke et and from the m minority shar reholder appr roval requirem ments of MI 61-101 by vir rtue of the exe emption cont tained hares issued to the in section n 5.7(a) of MI 61-101 in tha at the fair mar rket value of the considera ation of the sh related pa arty did not ex xceed 25% of the Company y’s market ca apitalization.
The secur rities issued under the F Financing, an nd the Shares s that may b be issuable o on exercise o of the Warrants and the Find der’s Warran nts, are subjec ct to a statut tory hold per riod expiring on Novemb ber 24, 2018.
On behalf f of the Board d of Directors
“Peter Espig”
Peter Esp pig CEO & D Director For additi ional informa ation contact:
Peter Espi ig Telephone e: (778) 385-12 Email: pet ter@nicolamin ning.com
Neither th he TSX Venture Exchange n nor its Regula ation Services s Provider (as s that term is s defined in th he lease. policies of f the TSX Ven nture Exchang ge) accepts responsibility f for the adequ uacy or accura acy of this rel