Victory Nickel Inc.


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Latest Developments

Victory Nickel Inc appoints interim chief financial officer

Victory Nickel Inc:Says that René Galipeau has been appointed as interim chief financial officer of the company, pending selection of permanent chief financial officer, effective May 7.

Victory Nickel announces CFO resignation

Victory Nickel:Says Alison Sutcliffe has resigned as Chief Financial Officer of the Company effective March 31 for personal reasons.

Victory Nickel Inc options Wisconsin Frac Sand property

Victory Nickel Inc:Says it has entered into an option to acquire a 100 pct interest in a land package totalling over 300 acres in south western Wisconsin, USA.Says it specifically targeting a 100 acre ridge which has been determined to contain one of the highest quality frac sand deposits in North America.Says option agreement provides for a cash payment on signing of the agreement, a second cash payment on delivery of permits and a third cash payment on exercise of the option.Says option is valid for six months with two equivalent extensions available under certain circumstances.Says prior to production the company will be required to pay $40,000 per annum as advance royalties on the initial 20,000 tons of sand production.Says once the property is in production, it will be required to pay a royalty of $2.00 per ton of frac sand sold from the property.

Victory Nickel Inc enters into sales contract for 20 pct of 7P Plant Frac Sand Production

Victory Nickel Inc:Says its wholly-owned subsidiary, Victory Silica Ltd. (VSL) enterss into take-or-pay contract for about 20 pct of 7P Plant production capacity and for its highest-volume quantities of 20/40 and 30/50 frac sand.Says objective is to enter into similar agreements for additional 30 pct of production capacity.

Victory Nickel Inc announces closing of convertible note financing

Victory Nickel Inc:Completes offering of unsecured convertible promissory notes having an aggregate principal amount of about $5 mln with a number of buyers.Company intends to use the proceeds for general corporate purposes and for working capital related to frac sand production managed by company's wholly-owned subsidiary Victory Silica Ltd.Victory Silica is currently completing commissioning of company's Seven Persons frac sand plant (7P Plant) near Medicine Hat, Alberta.

Victory Nickel Inc completes acquisition of 7P Plant site

Victory Nickel Inc:Says as result of completing the reclamation of the Seven Persons frac sand plant (7P Plant), reclamation deposit posted by the vendor of 7P Plant has been recovered from Alberta Energy Regulator (AER).This completes all of conditions precedent under 7P Plant Asset Purchase Agreement including satisfaction of final payment for acquisition by Victory Nickel of 7P Plant.During 2013-2014 Victory Nickel and its subsidiary Victory Silica Ltd (Victory Silica) completed Phase 1 of its three-phased entry into the frac sand business by converting the 7P Plant into a 500,000 ton per annum frac sand processing plant near Medicine Hat, Alberta.Plant commissioning is ongoing, production and sales of high-quality 16/30, 20/40, 30/50 and 40/70 frac sand have begun and due diligence to advance to Phase 2 is underway.

Victory Nickel Inc Announces Closing Of Convertible Note Financing

Victory Nickel Inc announced that it has completed a USD2 million convertible note financing (the "Note") with an offshore lender, the proceeds of which will be used by the Company's wholly-owned frac sand marketing subsidiary Victory Silica Ltd. ("VSL") to advance its entry into the frac sand market. Victory Silica is currently completing development of its Seven Persons frac sand plant (the "7P Plant") near Medicine Hat, Alberta and anticipates beginning frac sand production early in the first quarter of 2014.

Victory Nickel Inc Completes Rights Offering To Shareholders

Victory Nickel Inc announced that it has completed its previously announced rights offering. The rights offering generated gross proceeds of $2.4 million. Pursuant to the rights offering, the Company will issue 100,000,000 units (each, a Unit); each Unit comprises one Common Share and one Common Share purchase warrant (each a Warrant).

Victory Nickel Inc Announces Rights Offering To Shareholders

Victory Nickel Inc announced the terms of a rights offering to existing shareholders to raise gross proceeds of up to approximately $2.7 million (the Offering). The Company will be offering to eligible holders of its outstanding common shares (each, a Common Share) of record as at the close of business on June 28, 2013 approximately 452 million rights to subscribe for up to approximately 113 million units of the Company on the terms set forth in a rights offering circular to be mailed by the Company to shareholders (and which will also be available on SEDAR). Each such holder will receive one Right for each Common Share held on the Record Date. Four Rights will entitle the holder to purchase one Unit at a price of $0.024. Each Unit is comprised of one Common Share and one Common Share purchase warrant. Each Warrant will entitle the holder to purchase one Common Share at a price of $0.035 during the 12 month period beginning (Toronto time) on July 31, 2014 and on July 31, 2015. The Rights will expire on July 30, 2013, 2013. Shareholders who exercise all of their Rights will also be entitled to acquire additional shares pursuant to an additional subscription privilege to be provided for under the Offering, the terms of which are described in the Circular.

Victory Nickel Inc Completes $2.2 million Private Placement

Victory Nickel Inc announced that it has completed a non-brokered private placement of 44,178,500 common shares with A&M International Ltd. (A&M), for aggregate gross proceeds of $2,208,925. As a result of the Private Placement, A&M owns approximately 9.9% of Victory Nickel's outstanding common shares. A&M is based in London, UK and is a member company of AMIDT Group, a privately-held company that is focused on the physical production, engineering and trading of ferrous and non-ferrous metals, minerals, chemicals, alloys and scraps. Headquartered in Dubai, UAE, AMIDT Group has, through the acquisition of interests in production assets in mining, smelting, refining and processing, evolved from a pure physical commodity marketing company into a diversified natural resources group.

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