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Rock From The Road: Blog & Travelogue

June 19, 2017 – There is equipment to be sold. Associated Equipment Distributors (AED) President and CEO Brian P. McGuire advised that any U.S. Cuba policy should continue engagement with...
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Prime-Time Products

Metso’s Lokotrack Urban series mobile crushing plant revolutionizes crushing in densely populated environments, such as city centers, the company said. The new solution simplifies crushing operations, incorporates significant noise protection...
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Manufacturers in Focus

CASE Construction Equipment celebrated the CASE brand’s 175th birthday with a rally and luncheon attended by 800+ employees in Racine, Wis., as well as local dignitaries, elected officials and a...
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People on the Move

LiuGong Machinery introduced Kevin Thieneman as chairman of LiuGong North America and senior chief director of Guangxi LiuGong Machinery.
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Rock Stars

ASTM International’s Committee on Concrete and Concrete Aggregates (C09) presented its top annual award – the Award of Merit – to Robin E. Graves, corporate manager of technical services for...
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Distributor News

Based on an already successful business relationship, leading members of the Equipment Corporation of America (ECA) management team embarked on a visit to Orimattila, Finland, in April for a factory visit at ALLU's headquarters. During their visit, the ECA team...
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Resource Center

Company Acquires Securities of Victory Nickel


Nuinsco Resources Limited has acquired beneficial ownership of 53,799,900 units of securities of Victory Nickel Inc. pursuant to Victory Nickel's previously announced Rights Offering.

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

Nuinsco believes that this shareholding, together with its previous shareholding in Victory Nickel of 13,935,533 Common Shares, represents approximately 12.24 percent of the total issued and outstanding Common Shares based on an aggregate of 553,474,860 Common Shares issued and outstanding as of the date hereof as disclosed by Victory Nickel.

Nuinsco has acquired the Units, including the Common Shares, for investment purposes. Nuinsco's interest in Victory Nickel may be increased or decreased in the future in light of investment criteria, market conditions and other factors in accordance with the provisions of applicable securities legislation.

Additionally, pursuant to the terms of a previously announced amended and restated loan agreement between Victory Nickel and Nuinsco, the company expects to, in the future, acquire additional Common Shares in satisfaction of Victory Nickel's obligation to pay certain fees to Nuinsco subject to, and calculated and issued according to, the rules of the Toronto Stock Exchange.

Nuinsco is a growth-oriented, multi-commodity mineral exploration company that is focused on world-class mineralized belts in Canada and internationally. In addition to its property holdings in Ontario, Saskatchewan and Turkey,

Nuinsco owns common shares in Coventry Resources Limited and Victory Nickel Inc., and a 50 percent interest in CBay Minerals Inc., a private company that is a dominant player in Quebec's Chibougamau mining camp with assets including a permitted mill and tailings facility, eight past-producing copper/gold mines and a 96,000-acre land position.