Nicola Mining Announces NASDAQ Listing and Pricing of US$6.0 Million Offering

About this update from Nicola Mining Inc.

Nicola Mining Announces NASDAQ Listing and Pricing of US$6.0 Million OfferingVancouver, British Columbia--(Newsfile Corp. - April 13, 2026) - Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) (the "Company" or "Nicola") is pleased to announce the pricing of its underwritten public offering in the United States (the "Offering"). The Offering consists of 930,233 American Depositary Shares ("ADSs") and warrants to purchase 930,233 ADSs at an offering price of US$6.45 per ADS and accompanying warrant. Each ADS offered represents 12 common shares of Nicola. The gross proceeds, before deducting underwriter discounts, and commissions and offering expenses, are expected to be US$6.0 million. The warrants will have an exercise price of CAD$12.2213 per ADS, will be exercisable immediately upon issuance and will expire on the fifth anniversary of the original issuance date. The ADSs are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "NICM" on April 13, 2026 and the warrants will not be listed for trading. In addition, Nicola has granted the underwriters a 45-day option to purchase up to an additional 139,534 ADSs and/or up to an additional 139,534 warrants to purchase up to 139,534 ADSs at the public offering price, less underwriting discounts, and commissions. The offering is expected to close on April 14, 2026, subject to satisfaction of customary closing conditionsThe Company intends to use the net proceeds from the Offering for mill expansion, property, plant and equipment expenditures and general and administrative and working capital.Maxim Group LLC is acting as sole book-running manager for the Offering.The Offering was being made pursuant to an effective shelf registration statement on Form F-10 (File No. 333-293048) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective on January 29, 2026. Nicola may offer and sell securities in both the United States and other jurisdictions outside of Canada. No securities will be offered or sold to Canadian purchasers under the Offering. A preliminary prospectus supplement and accompanying prospectus relating to the Offering and describing the terms thereof was filed with the SEC and forms a part of the effective registration statement and is available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus sup...

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