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Victory Nickel Unchanged, But Being Bid Lower As Completes Flow-Through Financing

Victory Nickel Inc. (NI.TO) is unchanged, but there are 272,500 bids at 9.5 cents after announcing today that it has completed a non-brokered private placement financing of 8,695,652 flow-through units at a subscription price of $0.115 per flow-through unit. The company raised gross proceeds of around $1 million. It said each flow-through unit consisted of one common share of the company and one-half of one warrant, each issued on a "flow-through" basis pursuant to the Income Tax Act (Canada). Each Warrant entitles the holder thereof to purchase one (non-flow-through) common share until November 25, 2012 at an exercise price of $0.15 per share.

Proceeds of the private placement will be used for exploration of the company's Canadian sulphide nickel projects: Minago and Mel in Manitoba and Lac Rocher in Quebec.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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