Nicola Mining (Uplisting)

Print
General Information
Business:

Note: This is NOT an IPO. This is a NASDAQ Uplisting from the OTC Market in the U.S. This unit offering is a public  offering of 0.93 million ADS (930,233 ADS) plus an equal number of warrants. The warrants will not be listed for trading.

We operate a gold mill in Canada. We intend to use the net proceeds from this offering for mill expansion as well as for property, plant and equipment expenditures, and for working capital.

The transaction centers on 930,233 American Depositary Shares, or ADSs, as well as an equal number of warrants to acquire additional ADSs. The offering price is US$6.45 per ADS, including the attached warrant. Each offered ADS represents 12 common shares of Nicola Mining.

Nicola is a junior resource company engaged in two principal business segments: (1) mineral exploration and development; and (2) custom milling operations.
​
Mineral Exploration and Development
The mineral exploration and development segment encompasses Nicola’s efforts to identify, acquire and advance mineral properties in British Columbia. The Company’s principal exploration assets include the New Craigmont Project, the Treasure Mountain Project, and the Dominion Creek Gold Property. These projects are all in the exploration or pre-commercial development stage and have not yet reached commercial production:
*The New Craigmont Project, a historic copper mine site near Merritt, British Columbia, is the Company’s flagship asset. It is permitted under Mine Permit M-68 and has been the focus of extensive geophysical surveys, soil sampling and diamond drilling. A mineral resource estimate was completed in 2020 for the Southern Mining Terraces and 3060 Portal Dump areas.
*The Treasure Mountain Project, located near Hope, British Columbia, is permitted for the removal of up to 60,000 tonnes of silver/lead/zinc mill feed annually but remains in care and maintenance. In June of 2025, the Company received a multi-year area-based exploration permit which allows for five years of exploration and plans to commence exploration at the MB Zone.
*The Dominion Creek Gold Property, in which Nicola holds a 50% interest and a 75% economic benefit through a profit-sharing agreement, received its bulk sample permit in March 2025. Nicola and its partner, High Range Exploration Ltd., are preparing for potential mining and milling activities in the current year.
Custom Milling Operations
The custom milling operations segment is centred around the Merritt Mill, a fully permitted and operational facility located near Merritt, British Columbia. The mill is licensed to process up to 200 tonnes per day of silver, lead and gold ore. Nicola provides toll milling services to third-party mining companies, producing concentrate that is sold to offtake partners such as Ocean Partners UK. In 2024, the Company generated $818,000 in milling revenue and $1.97 million from gravel, ash, soil and other income. This compares to $1.62 million and $8.15 million, respectively, in 2023. All revenue was derived from sales to external customers; there were no sales to joint ventures, equity-accounted entities or controlling shareholders. The method of providing milling services involves receiving ore shipments from clients, processing the ore through crushing, grinding and flotation circuits at the Merritt Mill, and producing gold and silver concentrate. The concentrate is then shipped to offtake partners for sale. The Company also provides ancillary services such as storage, logistics coordination, and compliance with environmental and safety regulations.
The Merritt Mill has processed ore from clients, including Blue Lagoon Resources Inc., Talisker Resources Ltd. and Osisko Mining Inc. under profit-sharing agreements. The facility underwent upgrades in 2023 and 2024 to support increased throughput and quality control. The Company continues to seek new custom milling contracts to support its cash flow and maintain operational flexibility.

(Note: Nicola Mining priced its public offering – a NASDAQ Uplisting – of 930,233 American Depositary Shares – 0.93 million ADS – at $6.45 each – to raise $6 million on Monday, April 13, 2026, and made its debut on NASDAQ that day. Each ADS represents 12 common shares of Nicola Mining. The offering included warrants, which were not listed for trading. )
Industry: GOLD MILL
Employees:
Founded:
Contact Information
Address Suite 1212 – 1030 West Georgia Street Vancouver, British Columbia V6E 2Y3, Canada
Phone Number (778) 385-1213
Web Address
View Prospectus: Nicola Mining (Uplisting)
Financial Information
Market Cap
Revenues $ mil (last 12 months)
Net Income $ mil (last 12 months)
IPO Profile
Symbol NICM
Exchange NASDAQ
Shares (millions): 0.9
Price range $6.45 - $6.45
Est. $ Volume $6.0 mil
Manager / Joint Managers Maxim Group
CO-Managers
Expected To Trade: 4/13/2026
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change