Nicola Mining Inc. (TSXV:NIM) announced a non-brokered private placement of up to 5,000,000 at a price of CAD 0.13 per unit for the gross proceeds of CAD 650,000 on August 24, 2020. Each unit consists of one common share of the company and one-half of one share purchase warrant. Each warrant entitles the holder to purchase one additional share of the company at a price of CAD 0.20 per share for a period of two years from closing of the transaction. The company will not pay finders' fees in the transaction. All securities issued in the transaction are subject to a statutory hold period expiring four months and one day after closing for the transaction. The closing of the transaction is subject to approval of TSX Venture Exchange.