On January 29, 2026, Nicola Mining Inc. closed the transaction. The transaction consists of 5,512,001 units at a price of CAD 0.90 per unit for gross proceeds of CAD 4,960,800. Each unit will consist of one common share of the company and one transferable common share purchase warrant, with each warrant entitling the holder to purchase one share at a price of CAD 1.10 per share for a period of three years following the closing of the offering, provided that the expiry of the warrants can be accelerated if the closing price of the company's common shares on the TSX Venture Exchange is CAD 1.70 or greater for a minimum of 10 consecutive trading days and a notice of acceleration is provided in accordance with the terms of the warrants. An insider of the company participated. William Cawker, the corporate secretary of the company, subscribed for a total of 50,000 units under the offering, which is a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company paid a cash finders' fees of CAD 126,587.92 to certain eligible finders in connection with the offering
The company has received CAD 108,000 from a single investor pursuant to Regulation D.