Nicola Mining prices $6 million NASDAQ offering at $6.45 per share

Nicola Mining Inc. (NASDAQ: NICM) announced the pricing of its underwritten public offering of 930,233 American Depositary Shares and accompanying warrants at $6.45 per ADS. The Vancouver-based mining company expects gross proceeds of $6.0 million before underwriter discounts and expenses.

Each ADS represents 12 common shares of Nicola Mining. The warrants carry an exercise price of CAD$12.2213 per ADS, are exercisable immediately upon issuance, and expire five years from the original issuance date. The ADSs began trading on the Nasdaq Capital Market under ticker symbol "NICM" on April 13, 2026, while the warrants will not be listed for trading.

Nicola Mining has granted underwriters a 45-day option to purchase up to an additional 139,534 ADSs and warrants at the public offering price, less underwriting discounts and commissions. The offering is expected to close on April 14, 2026, subject to customary closing conditions.

The company plans to use net proceeds for mill expansion, property, plant and equipment expenditures, and general administrative and working capital purposes. Maxim Group LLC serves as sole book-running manager for the offering.

The offering was conducted under an effective shelf registration statement on Form F-10 that became effective on January 29, 2026. No securities will be offered to Canadian purchasers under this offering.

Nicola Mining operates a fully permitted mill and tailings facility near Merritt, British Columbia, and maintains mining and milling profit share agreements with gold projects in the province. The company owns the New Craigmont Project, which covers over 10,800 hectares adjacent to Highland Valley Copper, and the Treasure Mountain Property spanning more than 2,200 hectares.

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