Nicola Mining Inc. Provides Update on Proposed Nasdaq Listing via ADR Structure

Nicola Mining Inc. (TSX.V: NIM) (FSE: HLIA) (OTCQB: HUSIF) has provided an update on its previously announced plan to pursue a Nasdaq listing through an American Depositary Receipt structure. This strategy is intended to provide access to U.S. capital markets while preserving the company's existing share capital structure on its home exchange. The company noted that ADRs can be structured to meet Nasdaq price requirements without requiring a reverse share consolidation, allowing Nicola to maintain its current share count while expanding access to U.S. investors through a dual-market trading framework.

Nicola also confirmed that its proposed listing remains under Nasdaq review pursuant to Rule IM-5101-3, adopted in December 2025, which grants the exchange expanded discretionary authority to evaluate qualitative risks such as potential market manipulation before approving an initial listing. The company's latest news and updates relating to HUSIF are available in the company's newsroom at https://ibn.fm/HUSIF. To view the full press release, visit https://ibn.fm/sGlQt.

The importance of this development lies in the potential for expanded market access and liquidity for Nicola Mining. By pursuing a Nasdaq listing through an ADR structure, the company could tap into the substantial U.S. investor base while avoiding the dilution that might come with a reverse share consolidation. This approach demonstrates strategic financial planning aimed at maximizing shareholder value while navigating complex regulatory requirements. The Nasdaq review process under the new Rule IM-5101-3 represents a significant consideration, as it reflects increased regulatory scrutiny on qualitative risks in the current market environment.

For investors, this move signals Nicola Mining's commitment to enhancing its market presence and accessibility. The dual-market trading framework could potentially increase trading volume and visibility for the company's shares. The ADR structure offers U.S. investors a familiar mechanism for investing in foreign companies while providing Nicola with access to one of the world's largest capital markets. This strategic initiative comes as the company continues to develop its mining assets, including the New Craigmont Project and Treasure Mountain Property.

The implications of this announcement extend beyond immediate market access considerations. Successfully listing on Nasdaq could enhance Nicola Mining's credibility and profile within the investment community, potentially facilitating future capital raises and strategic partnerships. The company's ability to navigate the Nasdaq review process under the new regulatory framework will be closely watched by market participants. This development represents a significant step in Nicola Mining's growth strategy, aligning with its broader objectives of resource development and shareholder value creation in the competitive mining sector.