NICOLA MINING INC. ("NIM")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture, Warrant Term Extension and Price Amendment
BULLETIN DATE: November 24, 2017
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a replacement Non-Brokered Convertible Debenture Private Placement announced October 23, 2017 and November 14, 2017:
Convertible Debenture $7,000,882
Conversion Price: Convertible into 31,822,190 shares at $0.22 for a period of two years.
Maturity date: November 21, 2019
Interest rate: 10% per annum
Number of Placees: 14 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P # of Shares
Peter Espig Y $55,000
Concept Capital Management (Bernd Hoegel) Y $5,850,000
Aggregate Pro Group Involvement P $45,000
[1 placee]
Warrant Term Extension and Price Amendment
TSX Venture Exchange has consented to the extension in the expiry date of the following warrants:
# of Warrants: 7,000,882
Original Expiry Date of Warrants: November 21, 2018
New Expiry Date of Warrants: November 21, 2019
Original Exercise Price of Warrants: $0.50 (on a consolidated basis)
New Exercise Price of Warrants: $0.275
Forced Exercise Provision: If the closing price for the Company's shares is $0.34375 or greater for a period of 10 consecutive trading days, then the warrant holders will have 30 days to exercise their warrants; otherwise the warrants will expire on the 31st day.
These warrants were issued pursuant to a Convertible Debenture private placement of $7,000,882 convertible into 25,457,753 (on a post consolidation basis) shares with 7,000,882 (on a post consolidation basis) share purchase warrants attached, which was accepted for filing by the Exchange effective November 26, 2014.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s).
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