Nicola Mining Closes Strategic Private Placement of $164,000
VANCOUVER, B.C, / TheNewswire / MAY 27, 2016 - Nicola Mining Inc. (the "Company") announces that it has successfully closed a Tranche of $164,000 with strategic investors that were unable to participate in the recent Fourth Tranche Unit Financing, which the Company announced in its May 2, 2016 news release.
The Company sold to 2,050,000 Units, for gross proceeds of $164,000. The Company will pay $7,000 in finder's fees and issue 87,500 broker warrants at a price of $0.15 per share for a period of two years from the date of issuance.
Nicola Mining Inc. is junior mining company listed on the TSX Venture and is in the process of recommencing mill feed processing operations at its 100% owned state-of-the-art mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold properties. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes. The Company also owns 100% of the Treasure Mountain, its high grade silver property and a gravel pit, which is located adjacent to its milling operations.
On behalf of the Board of Directors
"Peter Espig"
Peter Espig
CEO & Director
For additional information
Contact: Peter Espig
(604) 647-0142 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.
Copyright (c) 2016 TheNewswire - All rights reserved.