NICM · Nicola Mining Inc. American Depositary Shares

This is a HIGH materiality event: Nicola Mining Inc. executed its inaugural U.S. public offering and Nasdaq listing, marking a pivotal strategic inflection point. The $6.0 million gross proceeds represent meaningful capital for near-term operational execution—specifically mill expansion and equipment upgrades—which directly address capacity constraints and support production scalability. Listing on the Nasdaq Capital Market under ticker 'NICM' significantly broadens the company’s U.S. investor base, improves pricing transparency, and establishes a liquid, regulated equity platform for future capital raises. The inclusion of immediately exercisable, five-year warrants at a premium to the offering price (CAD$12.2213 vs. US$6.45, ~CAD$8.90 at implied ~1.39 USD/CAD) provides a built-in secondary capital mechanism, though it introduces potential dilution. The partial exercise of the over-allotment option for warrants—rather than ADSs—suggests underwriters prioritized securing longer-dated, lower-cost capital participation. Critically, the offering was conducted exclusively in the U.S. under an SEC Form F-10 shelf registration, explicitly excluding Canadian investors, reinforcing a deliberate U.S.-centric capital markets strategy. No forward guidance, earnings data, or executive changes were disclosed; the filing’s sole material focus is this financing and listing milestone.