Business
Nicola Mining Announces Normal Course Issuer Bid
Vancouver, British Columbia--(Newsfile Corp. - March 10, 2023) - Nicola Mining Inc. ( TSXV: NIM )...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Announces Normal Course Issuer BidVancouver, British Columbia--(Newsfile Corp. - March 10, 2023) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLI) (OTCQB: HUSIF), (the \"Company\" or \"Nicola\") is pleased to announce that the TSX Venture Exchange (\"TSXV\") has accepted its Notice of Intention to Make a Normal Course Issuer Bid (\"NCIB\") which shall commence on March 15, 2023 and terminate on August 15, 2023, or such earlier date if the maximum number of shares are purchased.At the opening of the stock market on today's date, the Company is expected to have 314,152,672 common shares (each, a \"Share\") issued and outstanding. Under the NCIB, the Company may acquire up to an aggregate of 4,000,000 Shares over the next 5-month period, representing approximately 1.27% of the issued and outstanding Shares.The Company believes that Share purchases pursuant to the NCIB will contribute to the facilitation of an orderly market and be in the best interests of the Company and its shareholders. In the event that the Company believes that its Shares begin trading in a price range that does not adequately reflect their underlying value based on the Company's business prospects and strong financial position, the Company may purchase Shares pursuant to the NCIB. Depending upon future price movements and other factors, the Company believes that its outstanding Shares represent an attractive investment and a desirable use of a portion of its corporate funds.Purchases subject to this NCIB will be carried out pursuant to open market transactions through the facilities of the TSXV and any other available markets and alternative trading systems in Canada by Canaccord Genuity Corp. on behalf of the Company in accordance with applicable regulatory requirements. All Shares purchased by the Company under the NCIB will be returned to treasury and cancelled.To the knowledge of the Company, no director, senior officer or other insider of the Company currently intends to sell any Shares under this NCIB. However, sales by such persons through the facilities of the TSXV or any other available market or alternative trading system in Canada may occur if the personal circumstances of any such person change or if any such person makes a decision unrelated to these normal course purchases. The benefits to any such person whose Shares are purchased would ...