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Rock From The Road: Blog & Travelogue

Jan. 20, 2017 – Commerce secretary nominee Wilbur Ross told senators that he sees a need for federal government spending on infrastructure – a week after DOT nominee Elaine Chao...
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Prime-Time Products

Baldor Electric Co. offers solutions that help aggregate and mining producers meet today’s challenges to carefully balance process, environmental responsibilities, and cost to maintain a sustainable operation. It is imperative...
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Manufacturers in Focus

Building on a more than 100-year legacy as the world’s leading bolted steel tank, silo and aluminum dome manufacturer, CST Industries has expanded its product portfolio with TecTank FP, a...
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People on the Move

Kespry announced that George Mathew has been appointed as the company’s new chief executive officer and chairman. He was most recently president and chief operating officer of self-service analytics software...
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Rock Stars

Dr. Joseph L. Schofer, associate dean and professor of civil and environmental engineering at Northwestern University’s McCormick School of Engineering, is the 2017 recipient of the American Road & Transportation...
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Distributor News

Terramac, a leading manufacturer of innovative rubber track crawler carriers, expanded its representation in the North American market to include Tri-State Truck & Equipment as part of its dealer network. Tri-State will represent the Terramac product line in Montana and...
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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.