TORONTO - Shareholders of NUINSCO RESOURCES have approved the creation of VICTORY NICKEL to hold Nuinsco's nickel projects. The vote was 99.77% in favour. Nuinsco will transfer ownership of the three properties and $12 million to the new company.
When the deal is completed, Nuinsco will hold 25% of Victory Nickel. The nickel properties in question are the Minago advanced exploration project and Mel property in the Thompson Nickel Belt of Manitoba and the Lac Rocher project in northern Quebec. Nuinsco will retain its interests in its gold, copper and uranium prospects in Ontario, Quebec and Turkey.
The new company, Victory Nickel, should not be confused with the Victory Nickel coin issued during World War II and reissued in 2005 by the Royal Canadian Mint.