Ben Mockford chipped in with 9 points on 3-of-8 shooting from 3-point range for St. Francis (3-7).
Trailing 33-30 at halftime, Cannon's layup five minutes into the second half tied the game at 39.
The Terriers then went on a 24-11 run over the next 10 minutes to take a 63-50 lead with 5:07 left to play. Nichols finished off the run with back-to-back 3s. Colgate (3-9) failed to get within 10 the remainder of the game as St. Francis pulled away for the victory.
St. Francis made eight 3s in the final period and held Colgate to 37.9 percent (11 of 29) shooting in the second half.
Murphy Burnatowski led the Raiders with 19 points.
Former Kentucky guard Ed Davender, the only Wildcat with at least 1,500 points and 400 assists, has died. He was 49.
Guard Naz Mitrou-Long, whose 2015-16 season ended in December due to hip problems, has been granted a hardship waiver for the coming season, Iowa State said.
As the Sooners look to life without superstar Buddy Hield and his sidekicks, it's clear their unseasoned players will need to grow up fast.