Victory Nickel Inc. (TSX:NI) announced that it has finalized a loan agreement for $1 million with an interest of 12% per annum, payable quarterly in arrears until January 31, 2015.
As quoted in the press release:
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).
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