Nicola Mining Upsizes Financing with Proceeds to Be Used to Expand Capacity of and Upgrade Its Milling Facility

Core Viewpoint - Nicola Mining Inc. has successfully upsized its non-brokered private placement from $1,000,000 to $3,000,000, indicating strong support from existing shareholders and new institutional investors, which reflects confidence in the company's operational milestones and long-term strategy [1]. Group 1: Offering Details - The company plans to issue a total of 3,333,334 units at a price of $0.90 per unit, aiming for gross proceeds of up to $3,000,000, which includes 1,111,112 units issued in the first closing [2]. - Each unit will consist of one common share and one transferable common share purchase warrant, with each warrant allowing the holder to purchase one share at $1.10 for three years post-closing, with potential acceleration of expiry under certain conditions [3]. Group 2: Use of Proceeds - The gross proceeds from the offering will be allocated for ball mills, general operations, and corporate working capital [4]. - Specific uses may include purchasing and installing milling equipment to expand processing capacity to approximately 500 tonnes per day, adding a secondary ball mill, and procuring spare parts to support ongoing operational reliability [5]. Group 3: Company Overview - Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange and Frankfurt Exchange, owning a 100% mill and tailings facility near Merritt, British Columbia, and has signed profit share agreements with high-grade gold projects [8]. - The company also owns the New Craigmont Project, a high-grade copper property covering over 10,800 hectares, and the Treasure Mountain Property, a fully-permitted high-grade silver mine spanning over 2,200 hectares [9].