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Victory Nickel sells noncore asset for C$430,766

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Victory Nickel sells noncore asset for C$430,766

Victory NickelInc. has sold its interest in a partnership created to trade incommodities for C$430,766, minus fees and costs of about C$73,000.

The company has about 35,000 tonnes of sand in inventoryready for sale, it said July 4.

"This sale will provide some working capital while theoil and gas price recovers and drilling and the related consumption of fracsand returns," CEO Rene Galipeau said.

In early March, Victory Nickel underwent a of its secureddebt of about C$5.2 million as one of two steps to make its balance sheet morerobust.