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Victory Nickel Inc announced that it has completed a USD 2 million convertible note financing (the Note ) with an offshore lender, the proceeds of which will be used by the Company's wholly owned frac sand marketing subsidiary Victory Silica Limited to advance its entry into the frac sand market. Victory Silica is currently completing development of its Seven Persons frac sand plant (the 7P Plant) near Medicine Hat, Alberta and anticipates beginning frac sand production early in the Q1 of 2014.

The Note carries a two year term and bears an interest rate of 14.8% calculated monthly with quarterly cash payments. The lender has the option to convert a portion or the entire principal amount into common shares of the Company at any time during the term of the note at a conversion price of CAD 0.10.

Mr Rene Galipeau Vice Chairman and CEO of Victory Nickel Inc said that "The Note represents a significant piece of the financing required to start buying sand to commence frac sand production. We continue to get good traction on the Victory Silica plan from investors and potential customers and are working hard to begin production and sales as soon as possible."