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Nicola Mining Inc.: Nicola Mining Signs Purchase Contract for Gold and Silver Concentrate with Ocean Partners Holdings


Nicola Mining Inc.: Nicola Mining Signs Purchase Contract for Gold and Silver Concentrate with Ocean Partners Holdings
(TSXV: NIM) (FSE: HLI), (the
Company or
Purchase Contract ) for gold and silver concentrate with Ocean Partners UK Limited
1 (
Ocean Partners ), a company that provides global trading services to miners, smelters, and refiners. The Purchase Contract also includes a revolving US$500,000 prepayment provision (the
Prepayment ) that allows the Company to request an advance prepayment for the purpose of working capital. The Company entered into the Purchase Contract with the expectation of commencing milling activities at its Merritt Mill.
On April 26, 2021, the Company requested a Prepayment of US$250,000, which was subsequently received on April 27, 2021. Funds are expected to be allocated towards preparing the mill for production and potential acquisitions. Terms of the Prepayment are 3M LIBOR plus 5.5% per annum plus a fee of US ....

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