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Nicola Mining — Capital/Financing Update 2020
Sep 4, 2020
43861_rns_2020-09-04_28b15ac2-f2f7-4f37-9db8-08ee4f0dfb9b.pdf
Capital/Financing Update
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51-102F3 MATERIAL CHANGE REPORT [F]
Item 1 Name and Address of Company
Nicola Mining Inc. (the “ Company ”) 3329 Aberdeen Road Lower Nicola, BC V0K 1Y0
Item 2 Date of Material Change
September 2, 2020
Item 3 News Release
The news release dated September 2, 2020 was issued by Stockwatch and Market News on September 2, 2020.
Item 4 Summary of Material Change
On September 2, 2020, the Company announced that, further to its news releases dated August 24, 2020 and August 31, 2020, it has completed its private placement financing (the “ Offering ”), whereby the Company issued 5,769,230 units (each, a “ Unit ”) at a price of $0.13 per Unit for aggregate proceeds of $749,999.90.
Each Unit is comprised of one common share of the Company (each, a “ Share ”) and one-half of one share purchase warrant (each whole warrant, a “ Warrant ”). One Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of $0.20 per Share for a period of two years from closing of the Offering.
No finders’ fees were paid in connection with the Offering.
All securities issued in connection with the Offering are subject to a statutory hold period expiring January 3, 2021. The aggregate gross proceeds from the sale of the Offering will be used for general working capital.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Item 5 Full Description of Material Change
5.1 Full Description of Material Change
The material change is fully described in Item 4 above and in the News Release attached hereto.
5.2 Disclosure for Restructuring Transactions
Not Applicable
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
Not Applicable
Item 7 Omitted Information
None
Item 8 Executive Officer
Peter Espig, President and Chief Executive Officer, 778.385.1213
Item 9 Date of Report
September 4, 2020
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TSX.V: NIM
NICOLA MINING ANNOUNCES CLOSING OF PRIVATE PLACEMENT
VANCOUVER, BC, September 2, 2020 – Nicola Mining Inc. (TSX.V: NIM) (FSE: HLI), (the “ Company ” or “ Nicola ”) announces that, further to its news release dated August 24, 2020 and August 31, 2020, it has completed its private placement financing (the “ Offering ”), whereby the Company issued 5,769,230 units (each, a “ Unit ”) at a price of $0.13 per Unit for aggregate proceeds of $749,999.90.
Each Unit is comprised of one common share of the Company (each, a “ Share ”) and one-half of one share purchase warrant (each whole warrant, a “ Warrant ”). One Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of $0.20 per Share for a period of two years from closing of the Offering.
No finders’ fees were paid in connection with the Offering.
All securities issued in connection with the Offering are subject to a statutory hold period expiring January 3, 2021. The aggregate gross proceeds from the sale of the Offering will be used for general working capital.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the TSX Venture and Frankfurt Exchanges that maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold producers. The fully-permitted mill can process both gold and silver mill feed via gravity and flotation processes. The Company also owns 100% of the New Craigmont Project, a high-grade copper property, and an active gravel pit that is located adjacent to its milling operations.
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.
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