Vancouver, British Columbia--(Newsfile Corp. - December 24, 2018) - Nicola Mining Inc.
(TSXV: NIM) (the "Company") is pleased to announce that, further to its News Release of
December 19, 2018, that it has closed its flow-through private placement financing. The Company announced that it had increased the
number of units from 6,000,000 units (each, a "Unit") of the Company at $0.125 per Unit
for gross proceeds of up to $750,000 to 10,040,000 Units for gross proceeds of $1,255,000 (the "Offering").
Each Unit consists of one common share of the Company issued on a "flow-through" basis pursuant to the Income Tax Act (Canada)
(each, a "Share") and one-half of one common share purchase warrant (each, a "Warrant"), with each Warrant entitling
the holder to purchase one Share (on a non-flow-through basis) at a price of $0.15 per Share for a period of two years following
the closing of the Offering (the "Closing").
The Company paid cash finder's fees of $81,900 and issued 655,200 share purchase warrants (the "Finder's Warrants") to
five finders in connection with certain subscriptions in the Flow-Through Financing. The Finder's Warrants have the same terms as
the Warrants.
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 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 further exploration and development of a copper
resource on the Company's wholly-owned New Craigmont Property, which covers an area of 10,084 hectares along the southern end of
the Guichon Batholith and is adjacent to Teck Resources Ltd.'s Highland Valley Copper, Canada's largest copper mine. The New
Craigmont Property is the site of the historic Craigmont Mine, North America's highest-grade copper mine, and continues to have an
active mine permit. The Company plans to work towards a resource and mine plan for the project.
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 Espig
CEO & Director
For additional information contact:
Peter Espig
Telephone: (604) 647-0142
Email: peter@nicolamining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not
historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements.
Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of
management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing
conditions for the Offering, the expiry of hold periods for securities distributed pursuant to the Offering, and Exchange approval
of the proposed Offering. Although the Company believes that the expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject
to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in
the statements including that: the Company may not complete the Offering on terms favorable to the Company or at all; the Exchange
may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the funds raised from
the sale of the Units may not be renounced in favour of the Unit holders; the Company may be unable to satisfy all of the
conditions to the Closing; and those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the
forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date
of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except
where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether
as a result of new information, future events, or otherwise.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
