Net proceeds of the Offering will be approximately $2.4 million (excluding any potential proceeds from the exercise of the Warrants), assuming that all of the Rights are exercised. The Company intends to use the proceeds of the Offering for general working capital purposes, including the advancement of the frac sand business being developed by the Company's subsidiary Victory Silica Ltd.
About Victory Nickel
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 (under option to Prophecy Platinum) in Manitoba, and Lac Rocher in northwestern Quebec, 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.
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Forward-Looking Information: This news release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the mailing of the Circular to shareholders, the listing of the Rights and the Common Shares underlying the Units and the Warrants, the Standby Commitment, the amount and use of the proceeds raised from the Offering, the Company's development plans and objectives (including for the Minago, Mel and Lynn Lake properties) and estimates and/or assumptions in respect of production, revenue, sales, cash flow, costs, economic return, and net present value (including for the Minago, Mel and Lynn Lake properties)) constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: failure to successfully complete the Offering; uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; the failure of shareholders to exercise the maximum number of Rights; the failure of Nuinsco to provide the Standby Commitment; the possibility that actual circumstances will differ from estimates and assumptions; changes in equity markets; the inability of the Company to generate cash flow in the future; the inability of the Company to meet its development plans and objectives; and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated March 28, 2013 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions (including that all of the Rights will be exercised under the Offering) inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Victory Nickel Inc.
Rene Galipeau or Sean Stokes
CHF Investor Relations
416.868.1079 ext. 239
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