Victory Silica Ltd., a Subsidiary of Victory Nickel Inc., Hires Frac Sand Marketing Executive
August 06 2013 - 11:43AM
Marketwired
Victory Nickel Inc. ("Victory Nickel" or the "Company") (TSX:NI)
(www.victorynickel.ca) today took another step towards becoming a
high-quality frac sand supplier to the northern markets by making
another key addition to its Victory Silica team with the hiring of
D. Brent Lock as Vice President, Marketing.
Brent brings extensive marketing experience to Victory Silica.
He has spent the past five years as VP Operations/Marketing &
General Manager with Canfrac Sands Ltd., a Calgary-based frac sand
producer with operations located near Lloydminster, Sask. Prior to
that, Brent held a variety of operations and marketing positions in
the oil & gas sector over the course of 26 years for companies
including Gulf Canada Resources Ltd., Amerada Hess Canada Ltd. and
Apache Canada.
Brent will be responsible for developing and implementing
marketing strategies and managing customer relationships in support
of Victory Silica's goals to begin frac sand sales in 2013 and to
become a leading supplier of high-quality frac sand products in
Canada.
"The addition of Brent, along with the other appointments
announced recently, reflects our commitment to becoming the go-to
source for premium quality import and domestic frac sands in
Canada," said Victory Silica CEO Ken Murdock. "We are excited to
have Brent on board. He brings a wealth of marketing experience and
relationships within our target customer group that are vital in
the near-term and as we execute our growth plans in the
future."
About Frac Sand
Frac sand is a proppant used in the oil and gas business as a
part of the hydraulic fracturing process - a means of increasing
flow to the wellhead. Frac sand must have particular
characteristics including achieving certain levels of crush
resistance, sphericity and roundness, and it is therefore a
relatively rare commodity. Vast quantities of frac sand are
consumed, and more is needed all the time, as shale gas plays in
Canada and the US rise to prominence.
About Victory Silica Ltd.
Victory Silica is a wholly-owned subsidiary of the Company. In
Phase 1, Victory Silica plans to begin sales of premium quality
Midwest frac sand from its plant in Seven Persons, Alta. near
Medicine Hat (the "7P Plant") prior to the end of 2013 by shipping
partially-processed sand purchased in Wisconsin to the 7P Plant for
final processing and distribution. The 7P Plant is well located in
an area populated with fracking companies, its potential customers,
and is within only a few hours' trucking distance of major oil play
well sites. Phase 2, which includes the construction of a
concentrator in Wisconsin, will reduce costs and assure security of
sand supply through the control of a frac sand mine in Wisconsin.
In Phase 3, Victory Silica has identified a site in Winnipeg,
Manitoba, where it plans to build a larger frac sand plant to
process and distribute both imported and domestic sands, including
sand mined as a co-product of development of a nickel mine at the
Company's 100%-owned Minago project in Manitoba. With margins
expected to be in excess of $25 per ton of frac sand sold, Victory
Silica should generate sufficient cash flow in Phases 1 and 2 to
provide the financial flexibility to expand its activities by
developing a second plant as Phase 3 of its growth plan.
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 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.
Please visit the Company's website at www.victorynickel.ca.
Should you wish to receive Company news via email, please email
juliet@chfir.com and specify "Victory Nickel" in the subject
line.
Forward-Looking Information: This news release contains
forward-looking information. All statements, other than statements
of historic fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future 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: uncertainty of estimates of capital and operating costs,
production estimates and estimated economic return; the possibility
that actual circumstances will differ from estimates and
assumptions; uncertainties relating to the availability and costs
of financing needed in the future; failure to establish estimated
mineral resources; fluctuations in commodity prices and currency
exchange rates; inflation; recoveries being less than those
indicated by the testwork carried out to date (there can be no
assurance that recoveries in small scale laboratory tests will be
duplicated in large tests under on-site conditions or during
production); changes in equity markets; operating performance of
facilities; environmental and safety risks; delays in obtaining or
failure to obtain necessary permits and approvals from government
authorities; unavailability of plant, equipment or labour;
inability to retain key management and personnel; changes to
regulations or policies affecting the Company's activities; the
uncertainties involved in interpreting geological data; 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
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.
Contacts: Victory Nickel Inc. René Galipeau or Sean Stokes
416.363.8527 416.626.0890 (FAX)admin@victorynickel.ca
www.victorynickel.ca Victory Silica Ltd. Ken Murdock 403.899.0141
CHF Investor Relations Juliet Heading 416.868.1079 ext. 239
416.868.6198 (FAX)juliet@chfir.com