Nicola Mining Inc. announced the pricing of an underwritten public offering consisting of 930,233 American Depositary Shares (ADSs) and accompanying warrants at a public offering price of $6.45 per ADS. The company, headquartered in Vancouver, said the offering is expected to generate gross proceeds of approximately $6.0 million before deducting underwriter discounts and offering expenses.
Each ADS is contractually tied to 12 common shares of Nicola Mining. The issued warrants accompanying the ADSs carry an exercise price of CAD$12.2213 per ADS, are immediately exercisable upon issuance, and have a term that extends to five years from the original issuance date. While the ADSs began trading on the Nasdaq Capital Market under the symbol "NICM" on April 13, 2026, the warrants will not be listed for trading.
The company has provided the underwriters with a 45-day option to purchase up to an additional 139,534 ADSs and related warrants at the public offering price, less customary underwriting discounts and commissions. Nicola Mining stated the offering is expected to close on April 14, 2026, subject to customary closing conditions.
Nicola Mining outlined intended uses for the net proceeds from the offering, saying funds will be directed toward mill expansion, property, plant and equipment expenditures, and general administrative and working capital purposes. Maxim Group LLC is serving as the sole book-running manager for the transaction.
The offering was carried out under an effective shelf registration statement on Form F-10 that became effective on January 29, 2026. The company also noted that no securities will be offered to Canadian purchasers in connection with this offering.
Nicola Mining operates a fully permitted mill and tailings facility located near Merritt, British Columbia. The company maintains mining and milling profit share agreements with gold projects in the province. Nicola Mining's mineral property holdings include the New Craigmont Project, which spans over 10,800 hectares and lies adjacent to Highland Valley Copper, and the Treasure Mountain Property, covering more than 2,200 hectares.
Timeline and transaction mechanics
- ADS trading on Nasdaq under "NICM" commenced April 13, 2026.
- Offering expected to close on April 14, 2026, subject to customary closing conditions.
- Underwriters hold a 45-day option for up to 139,534 additional ADSs and warrants.