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03:09:32 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Nicola Mining Inc
Symbol NIM
Shares Issued 292,022,677
Close 2022-12-06 C$ 0.10
Market Cap C$ 29,202,268
Recent Sedar Documents

Nicola completes debenture amendments

2022-12-06 17:08 ET - News Release

J. McLellan Subject: Nicola Mining Inc. Word Document File: '\\office\emailin\20221206 135938 Attachment NICOLA News Release announcing closing of amendments to convertible debentures at $0.085 (December 2022).DOCX' 2 TSXV: NIM NICOLA MINING ANNOUNCES CLOSING OF AMENDMENTS TO SUBORDINATED SECURED CONVERTIBLE DEBENTURES VANCOUVER, BC, December 6, 2022 - Nicola Mining Inc. (TSX.V: NIM) (FSE: HLI) (OTCQG: HUSIF), (the "Company" or "Nicola") is pleased to announce that, further to its News Release of November 29, 2022, 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 $5,613,706 to certain holders. The Debentures mature on November 21, 2025 and bear interest at the rate of 10% per annum. The Debentures are convertible into common shares of the Company (each a "Share") at a conversion price (the "Conversion Price") of $0.085 per Share for the period from November 21, 2022 to November 21, 2023 and $0.10 thereafter unless the Company completes a consolidation, then the Conversion Price shall be equal to $0.085 multiplied by the consolidation ratio subject to a minimum Conversion Price of $0.10. The Company is permitted 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. An insider of the Company is the beneficial owner of Debentures in the aggregate amount of $4,687,500, which constituted a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance to the insider is exempt from the valuation requirement of MI 61-101 by the virtue of the exemption contained in section 5.5(b) as the Company's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) as the value of the Debentures did not exceed 25% of the Company's market capitalization. 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: info@nicolamining.com 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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