Victory Nickel Inc. Announces Retirement of RenÃ© Galipeau as Chief Executive Officer
The board, management team and shareholders of VictoryNickel have been fortunate to have the benefit of his expertise since theinception of the Company and through the more than challenging circumstancesone inevitably confronts in our industry. We are deeply appreciative and thankhim for his service.
Mr. Galipeau has more than 48 years in the miningindustry spanning a wide range of commodities, companies and innumerableeconomic cycles.He is known for hiscreativity, tenacity, compassion and sense of humour in every facet of hiscareer. Hehad the vision to create Victory Nickel through the acquisition of the Minago,Mel and Lac Rocher sulphide nickel projects from Nuinsco Resources Ltd. ("Nuinsco"), generating approximately$150 million in previously-unrecognized value for Nuinsco and Victory Nickelshareholders after the Company went public in 2007. In 2012, Mr. Galipeau movedthe Company in a bold new direction with the creation of Victory Silica Ltd. asan entry point into the growing frac sand market in order to demonstrate thesignificant value of the Minago property's frac sand resource.
"On a personal note, Rene has mentored a long list ofmining executives over his career, of which I am one, dating back more than 25years and I want to thank him for his guidance and unwavering support; a truefriend and consummate professional. It has been a privilege to work alongsidehim," said Cynthia Thomas, Chair.
Ms. Thomas has been appointed Executive Chair and SeanStokes, Interim Chief Executive Officer in addition to his current role asActing Chief Financial Officer. Mr. Galipeau will remain on the Board ofDirectors and continue to serve as an advisor to the Company.
About Victory Nickel
VictoryNickel Inc. is a Canadian company with four sulphide nickel deposits containingsignificant NI 43-101-compliant nickel resources and a significant frac sandresource at its Minago project. Victory Nickel is focused on becoming amid-tier nickel producer by developing its existing properties, Minago, Mel andLynn Lake (currently under option to Corazon Mining Ltd.) in Manitoba, and LacRocher in northwestern Québec. Through a wholly-owned subsidiary, VictorySilica Ltd., Victory Nickel at its 7P Plant frac sand processing facility inSeven Persons Alberta, has established itself in the frac sand business priorto commencing frac sand production and sales from Minago.
Victory Nickel Inc.
Forward-Looking Information: This news releasecontains certain forward-looking information. All information, other thaninformation regarding historic fact that addresses activities, events or developmentsthat the Company believes, expects or anticipates will or may occur in thefuture is forward-looking information. The forward-looking informationcontained in this news release, including information related to the completionand outcome of any debt restructuring activities reflects the currentexpectations, assumptions and/or beliefs of the Company based on informationcurrently available to the Company. The forward-looking information containedin this news release is subject to a number of risks and uncertainties that maycause actual results or events to differ materially from current expectations. Anyforward-looking information speaks only as of the date on which it is made and,except as may be required by applicable law, the Company disclaims anyobligation to update or modify such forward-looking information, either becauseof new information, future events or for any other reason. Although the Companybelieves that the assumptions inherent in the forward-looking information arereasonable, forward-looking information is not a guarantee of futureperformance and accordingly undue reliance should not be put on suchinformation due to the inherent uncertainty therein.
SOURCE: Victory Nickel Inc.