Nuinsco Provides Update on Status of Bridge Loan
- Monday December 15, 2008, 5:50 pm EST
TORONTO, ONTARIO--(MARKET WIRE)--Dec 15, 2008 -- Nuinsco Resources Limited ("Nuinsco" or "the Company") (Toronto:NWI.TO - News) (http://www.nuinsco.ca/) today announced that it has advised its lender that the Company is not in a position to repay a bridge loan in the aggregate amount of US$5 million, on December 15, 2008. The bridge loan is secured by the Company's shares in Victory Nickel. The Company and its lender are in discussions to extend the repayment date.
About Nuinsco Resources
Nuinsco is a growth-oriented, multi-commodity mineral exploration and development company that is focused on uranium, copper, zinc and gold exploration and development in world-class mineralized belts in Canada and Turkey. In addition to its property holdings, Nuinsco owns approximately 15% of the outstanding common shares of Victory Nickel Inc. (Toronto:NI.TO - News), approximately 13% of the outstanding common shares of precious and base metals producer Gold Hawk Resources Inc. (CDNX:CGK.V - News) and a 50% interest in future cash flows from the Corner Bay copper project owned by Campbell Resources Ltd. (Toronto:CCH.TO - News). Shares of Nuinsco trade on the Toronto Stock Exchange under the symbol NWI.
