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Feb. 15, 2018 – It looks like President Trump read my February issue editorial. He reportedly tried to persuade his fellow Republicans to raise the gas tax, according to a...

Prime-Time Products

Telsmith Inc. will exhibit at the 2018 AGG1 Expo in Houston, from March 6-8, at Booth #2218. Telsmith will introduce The Extra Mile campaign, which honors those who go the...
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Manufacturers in Focus

FEMCO Holdings LLC has reached an agreement with KPI-JCI and Astec Mobile Screens whereby FEMCO’s facility located in Atlanta will serve as an Authorized Repair Facility in the Southeast region...
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People on the Move

Precision Inc. announced that effective Jan. 15, Matt Buckingham has been named the new vice president of manufacturing for Precision, Pulley and Idler (PPI).
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Rock Stars

George Sidney of McLanahan Corp., was honored with the National Stone, Sand and Gravel Association's (NSSGA) Grasstops CEO of the Year award.
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Distributor News

Patten Cat, Caterpillar’s authorized dealer in northern Illinois and northwest Indiana, announced it has joined the distribution network of Metso. The arrangement will better enable Patten Cat to reach new markets in need of stationary or mobile crushing and screening...
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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.