Nuinsco Increases Victory Nickel Position to 12.24 Percent

Nuinsco Resources Ltd. (TSX:NWI) announced that it has acquired beneficial ownership of 53,799,900 Victory Nickel Inc. (TSX:NI) securities units. The company believes it now owns 12.24 percent of Victory’s issued and outstanding common shares.

As quoted in the press release:

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 “Loan Agreement”), Nuinsco 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.

Click here to read the full Nuinsco Resources Ltd. (TSX:NWI) press release.