Business
Nicola Mining Upsizes Financing with Proceeds to Be Used to Expand Capacity of and Upgrade Its Milling Facility
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2026) - Nicola Mining Inc. (TSXV: NIM)...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Upsizes Financing with Proceeds to Be Used to Expand Capacity of and Upgrade Its Milling FacilityVancouver, British Columbia--(Newsfile Corp. - January 13, 2026) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLIA) (OTCQB: HUSIF) (the \"Company\" or \"Nicola Mining\") is pleased to announce that it has upsized its previously announced non-brokered private placement (on December 27, 2025) from $1,000,000 to a total of $3,000,000 (the \"Offering\"). The Company has received strong support from existing shareholders and new institutional investors, reflecting confidence in its operational milestones and long-term strategy.The Company intends to issue an aggregate of 3,333,334 units (each a \"Unit\") at a price of $0.90 per Unit for gross proceeds of up to $3,000,000, including the 1,111,112 Units issued in the first closing.Each Unit will consist of one common share of the Company (each, a \"Share\") and one transferable common share purchase warrant (each, a \"Warrant\"), with each Warrant entitling the holder to purchase one Share at a price of $1.10 per Share for a period of three years following the closing of the Offering (the \"Closing\"), provided that the expiry of the Warrants can be accelerated if the closing price of the Company's common shares on the TSX Venture Exchange (the \"Exchange\") is $1.70 or greater for a minimum of ten consecutive trading days, and a notice of acceleration is provided in accordance with the terms of the Warrants.The aggregate gross proceeds from the Offering will be used for ball mills, general operations, and corporate working capital. Such use of proceeds may include, but is not limited to, the purchase and installation of milling equipment to expand processing capacity to approximately 500 tonnes per day, the addition of a secondary ball mill, supplementary cleaner flotation cells, and associated pumping infrastructure. Any remaining equipment requirements may be met through the refurbishment and recommissioning of existing plant and machinery. In addition, spare bowl and mantle assemblies may be procured to support routine crusher maintenance and ensure ongoing operational reliability.\"We are very pleased with the strong market reception of this financing and the support from both existing and new investors,\" said Peter Espig, CEO of Nicola Mining Inc. \"Nicola has been very fruga...