Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
In the same category
Victory Nickel Announces Loan Agreement
Published : January 25, 2013

Proceeds to Fund General Working Capital Requirements

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Market | Nickel | Silica |

TORONTO, ONTARIO--(Marketwire - Jan. 25, 2013) - Victory Nickel Inc. ("Victory Nickel" or the "Company") (News - Market indicators) (www.victorynickel.ca) today announced that it has completed a loan agreement (the "Loan Agreement") whereby the lender provided the Company with a secured loan facility for $1 million (the "Loan"). The Loan bears interest at 12% per annum, payable quarterly in arrears and matures on January 31, 2015.

As well, negotiations are well advanced to increase this Loan to up to $3.0 million with the additional amount available to fund capital expenditures relating to the Seven Persons sand recycling facility (the "7P Facility") located southwest of Medicine Hat, Alberta which Victory Nickel has agreed to purchase subject to certain conditions (see news release dated January 9, 2013).

At the option of the Lender and under certain circumstances, the Lender can elect to receive prepayment of the Loan from the proceeds of an option payment payable prior to March 1, 2013 pursuant to a property sale agreement.

About Victory Nickel

Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits containing significant NI 43-101- compliant nickel resources. Victory Nickel is focused on becoming a mid-tier nickel producer by developing its existing properties, Minago, Mel and Lynn Lake in Manitoba, and Lac Rocher in northwestern Québec, and by evaluating opportunities to expand its nickel asset base. Through a wholly-owned subsidiary, Victory Silica Ltd., Victory Nickel is establishing a presence in the frac sand market prior to commencing frac sand production and sales from Minago. 

Please visit the Company's website at www.victorynickel.ca. Should you wish to receive Company news via email, please email juliet@chfir.com and specify "Victory Nickel" in the subject line.

Forward-Looking Information: This news release contains forward-looking information. All statements, other than statements of historic fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the failure to finalize negotiations concerning the increase of the Loan or to close such transaction and the failure of the Company to complete the acquisition of the 7P Facility; operating performance of facilities; environmental and safety risks; delays in obtaining or failure to obtain necessary permits and approvals from government authorities; unavailability of plant, equipment or labour; inability to retain key management and personnel; changes to regulations or policies affecting the Company's activities; and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's amended annual information form dated November 5, 2012 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.



Victory Nickel Inc.
Rene Galipeau or Sean Stokes
416.363.8527
416.626.0890 (FAX)
admin@victorynickel.ca
www.victorynickel.ca
or
CHF Investor Relations
Juliet Heading
416.868.1079 ext. 239
416.868.6198 (FAX)
juliet@chfir.com
Companies Mentionned : Government | Reliance | Victory Nickel |
Data and Statistics for these countries :
Gold and Silver Prices for these countries :

Victory Nickel Inc.

DEVELOPMENT STAGE
CODE : NI.TO
ISIN : CA92647F1027
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Victory Nickel is a nickel development stage company based in Canada.

Victory Nickel develops nickel and palladium in Canada, and holds various exploration projects in Canada.

Its main asset in development is MINAGO in Canada and its main exploration properties are MEL PROPERTY and LAC ROCHER SULPHIDE NICKEL in Canada.

Victory Nickel is listed in Canada. Its market capitalisation is CA$ 1.7 millions as of today (US$ 1.3 millions, € 1.2 millions).

Its stock quote reached its highest recent level on January 08, 2010 at CA$ 2.20, and its lowest recent point on January 29, 2016 at CA$ 0.01.

Victory Nickel has 57 640 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Victory Nickel Inc.
2007 Annual report
Financings of Victory Nickel Inc.
7/31/2013Announces Successful Rights Offering to Shareholders
7/31/2013Announces Successful Rights Offering to Shareholders
6/14/2013Announces Rights Offering to Shareholders
Nominations of Victory Nickel Inc.
8/7/2013Announces Changes to Board of Directors
6/19/2012Creates Victory Silica Ltd., Appoints Ken Murdock as CEO, In...
Financials of Victory Nickel Inc.
4/1/2015Announces Fourth Quarter and Fiscal 2014 Financial and Opera...
Project news of Victory Nickel Inc.
4/14/2015Temporarily Suspends Frac Sand Production
10/9/2013Subsidiary Victory Silica Progressing Toward Frac Sand Produ...
4/12/2012(Minago)Drilling Nickel Bearing Area South of Minago Sulphide Nickel...
4/4/2012(Minago)Drill Program Progressing at Minago Sulphide Nickel Project
9/19/2011(Minago)Receives Board Approval to Proceed With Development of Minag...
8/24/2011(Minago)Granted Environment Act Licence for Minago Sulphide Nickel M...
8/16/2011(Minago)Estimates 21 Million to 34 Million Tonne ETMI in Minago Nort...
8/8/2011(Minago)Identifies Western Extension of Nose Deposit at Minago
5/2/2011(Minago)Increases Minago Pit-Constrained Measured & Indicated Resour...
9/20/2010(Mel Property)Retains 100% of Mel Nickel Property
9/14/2010(Minago)Further Impressive Drill Results Expected to Enhance Reserve...
Corporate news of Victory Nickel Inc.
1/8/2016Victory Nickel Announces TSX Delisting Decision
1/8/2016TSX Delisting Review - Victory Nickel Inc. (Symbol: NI)
12/14/2015Victory Nickel Unsecured Note Holder Provides Notice of Defa...
12/2/2015TSX Delisting Review - Victory Nickel Inc. (Symbol: NI)
11/26/2015Victory Nickel Announces Debt Restructuring Package
11/12/2015Victory Nickel Announces Third Quarter 2015 Financial and Op...
10/2/2015Victory Nickel Granted Extension for Delisting Review by the...
10/2/2015TSX Delisting Review - Victory Nickel Inc. (Symbol: NI)
8/14/2015Victory Nickel Announces Second Quarter 2015 Financial and O...
8/5/2015Victory Nickel Comments on Remedial Delisting Review Initiat...
8/5/2015TSX Delisting Review - Victory Nickel Inc. (Symbol: NI)
7/31/2015Victory Nickel Updates Secured Debt Status
7/2/2015Victory Nickel Announces Non-Payment of Quarterly Interest o...
6/29/2015Victory Nickel Announces Results of Annual and Special Meeti...
6/23/2015Victory Nickel Provides Corporate and Operations Update
6/3/2015Victory Nickel Announces Amended Loan Agreement and Warrant ...
5/19/2015Victory Nickel Announces First Quarter 2015 Financial and Op...
5/8/2015Victory Nickel Appoints Interim Chief Financial Officer
4/22/2015Victory Nickel Announces Loan Extension
4/22/2015Announces Loan Extension
4/14/2015Victory Nickel Temporarily Suspends Frac Sand Production
4/14/2015Victory Nickel Announces Receipt of Payment for Lynn Lake Pr...
4/14/2015IIROC Trading Halt - NI
4/6/2015Announces Receipt of Payment for Lynn Lake Project Option
4/6/2015Victory Nickel Announces Receipt of Payment for Lynn Lake Pr...
4/1/2015Victory Nickel Announces Fourth Quarter and Fiscal 2014 Fina...
3/25/2015Victory Nickel Announces Management Change
3/25/2015Announces Management Change
3/18/2015Victory Nickel's Bear Coulee Frac Sand Project Exceeds API S...
3/18/2015Bear Coulee Frac Sand Project Exceeds API Specs
2/25/2015Victory Nickel Provides Update and Outlook for Frac Sand Ope...
2/25/2015Provides Update and Outlook for Frac Sand Operation
2/3/2015Announces NI 43-101 Resource on Wisconsin Frac Sand Deposit
2/3/2015Victory Nickel Announces NI 43-101 Resource on Wisconsin Fra...
1/9/2015Victory Nickel Expands Its Wisconsin Frac Sand Supply Chain
11/14/2014Victory Nickel Announces Third Quarter and Nine Month Financ...
11/12/2014Victory Nickel Board Approves Proceeding with Phase Two of F...
11/4/2014Victory Nickel Options Lynn Lake Nickel Project to Corazon M...
10/29/2014Victory Nickel Adds Final Crew to Operate 24/7 at 7P Frac Sa...
10/2/2014Victory Nickel Options Wisconsin Frac Sand Property
9/12/2014Victory Nickel Announces Consolidation of Common Shares
9/5/2014Victory Nickel to Present at the 16th Annual Global Investme...
8/14/2014Victory Nickel Announces Second Quarter Financial Results
8/13/2014Victory Nickel Enters Into Sales Contract for 20% of 7P Plan...
8/11/2014Victory Nickel Announces Successful Commissioning at 7P Frac...
7/7/2014Victory Nickel Announces Closing of Convertible Note Financi...
5/30/2014Victory Nickel Announces Results of Annual and Special Meeti...
5/28/2014Victory Nickel Reminder: Annual and Special Meeting of Share...
5/16/2014Victory Nickel Files Q1 Financial Statements
5/15/2014Victory Nickel Obtains Line of Credit for Frac Sand Business
4/30/2014Victory Nickel Applies for Amendment to Minago EAL
4/22/2014Victory Nickel and Nuinsco Announce Conversion of Loan to Di...
11/4/2013Provides Update on Frac Sand Plant Development
8/6/2013Silica Ltd., a Subsidiary of Victory Nickel Inc., Hires Frac...
8/2/2013Acquisition of Securities of Victory Nickel Inc. and Filing ...
7/11/2013Set to Begin Development of Seven Persons Frac Sand Plant
6/28/2013Announces Results of Annual and Special Meeting
5/28/2013Adopts Advance Notice By-Law
3/26/2013Announces Amended and Restated Loan Agreement
3/22/2013Completes $2.2 million Private Placement
2/28/2013Olympic Snowboarder Michael Lambert to Join Victory Nickel I...
2/25/2013Announces Filing of Application to Change Permit Status of S...
1/25/2013Announces Loan Agreement
1/9/2013Completes Asset Purchase Agreement for Seven Persons Sand Pl...
11/14/2012Files Revised Annual Information Form
6/26/2012Ken Murdock Discusses Plans for Victory Silica's Entry Into ...
5/14/2012Reports on Winter Programs
8/10/2011(Minago)Again Improves Economics at Minago
8/3/2011Identifies Depth Extension to Known Resource at Mel Nickel P...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (NI.TO)
0.030-25.00%
TORONTO
CA$ 0.030
02/19 16:27 -0.010
-25%
Prev close Open
0.040 0.040
Low High
0.020 0.040
Year l/h YTD var.
0.010 -  0.040 50.00%
52 week l/h 52 week var.
0.010 -  0.070 -50.00%
Volume 1 month var.
81,041 -%
24hGold TrendPower© : 15
Produces
Develops Nickel
Explores for Nickel
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
DateVariationHighLow
201650.00%0.040.01
2015-92.31%0.260.02
2014-48.00%0.900.25
201366.67%0.600.20
2012-62.50%0.800.20
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Ormat technologiesORA
Document: Insider Ownership
US$ 43.38+0.21%Trend Power :
Anglo Asian Mining(Au-Cu)AAZ.L
FY2015 Results - Record gold production of 72Koz; 28.6Koz silver; 969t copper; and total revenues of
GBX 9.88-3.61%Trend Power :
Royal Gold(Ag-Au-Cu)RGLD
Royal Gold Announces Third Quarter Dividend
US$ 55.02-1.49%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Announces New Nominees to Board of Directors
CA$ 0.18-11.90%Trend Power :
Hecla Mining(Cu-Le-Zn)HL
Hecla to Acquire Mines Management
US$ 3.91-3.69%Trend Power :
CabotCBT
Board Increases Dividend
US$ 45.53+0.55%Trend Power :
Ormat technologiesORA
Ormat Technologies Secures $36 Million Supply EPC Contracts for a Geothermal Power Plant in New Ze
US$ 43.38+0.21%Trend Power :
Ivanhoe Mines(Ag-Au-Cu)IVN.TO
Kamoa Copper Project initiates major drilling program at the ne
CA$ 0.99-3.88%Trend Power :
Energy Fuels(Cu-Ni-Zn)EFR.TO
Announces Election of Directors and Results of Shareholder Meeting and Filing of Renewal of Prelimin
CA$ 2.87-2.71%Trend Power :
Claude Resources(Au-Cu-Ngas)CRJ.TO
Shareholders approve acquisition of Claude Resources by Silver Standard
CA$ 2.08-6.73%Trend Power :
Canalaska(Ag-Au-Co)CVV.V
Enters into $20.4 Million Deal with De Beers
CA$ 0.60+0.00%Trend Power :
Treasury MetalsTML.TO
Closing $4.0 Million Offering
CA$ 0.48-2.04%Trend Power :
American ManganeseAMY.V
CLOSES $200,500 PRIVATE PLACEMENT
CA$ 0.02-20.00%Trend Power :
UEX(Au-Cu-Ur)UEX.TO
Closes $7.25 Million Combined Flow-Through and Hard Dollar Private Placements
CA$ 0.22-4.44%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q1 2016 and Operations Update
CA$ 0.18-11.90%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Stornoway Announces Results From Annual General Meeting
CA$ 0.98+0.00%Trend Power :
Pure Gold.(Cu-Fe-Au)PGM.V
Intersects 10.9 g/t gold over 9.8 metres, Including 27.0 g/t gold over 3.8 Metres at the McVeigh Hor
CA$ 0.60-4.76%Trend Power :
Harvest Natural(Ngas-Oil)HNR
Announces 2016 First Quarter Results
US$ 0.43-4.44%Trend Power :
Premier Gold Mines(Au)PG.TO
Strengthens Senior Management
CA$ 2.82-5.37%Trend Power :
St Barbara(Au-Cu-Ni)SBM.AX
Presentation to Melbourne Mining Club
AU$ 2.66+3.50%Trend Power :