Business
Nicola Mining Announces Non-Brokered Private Placement With Strategic Mining Investment Group
VANCOUVER, British Columbia, June 28, 2019 (GLOBE NEWSWIRE) -- Nicola Mining Inc. (the “Company”) (TSX.V: NIM) is pleased to announce a non-brokered private pla
About this update from Nicola Mining Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, June 28, 2019 (GLOBE NEWSWIRE) -- Nicola Mining Inc. (the “Company”) (TSX.V: NIM) is pleased to announce a non-brokered private placement anchored by an international mining investment group (the “Investors”) that has set up a Canadian subsidiary for the investment. Insiders will also participate in the private placement, which will consist of the issuance of up to 7,000,000 units (each, a “Unit”) at a price of $0.10 per Unit for gross proceeds of up to $700,000 (the “Offering”). Insiders may also participate in the Offering. The Investors have affiliated mining operations in both Africa and Asia and are long-term investors. Each Unit will consist of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to purchase one Share at a price of $0.15 per Share for a period of two years following the closing of the Offering (the “Closing”). All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the TSX Venture Exchange (the “Exchange”). Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. 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. On behalf of the Board of Directors “Peter Espig”Peter EspigCEO & Director For additional information contact: Peter Espi...