First Tranche Closing Non-brokered Private Placement
ELN News July 27, 2009
August 25, 2009 Vancouver, BC -- El Niño Ventures Inc. ("ELN" and "the Company") (TSX.V: ELN; Frankfurt: E7Q) is pleased to announce that further to its news release of July 27, 2009 the Company has closed the first tranche of its non-brokered private placement and has issued a total of 5,660,000 units at a purchase price of $0.08 per unit for gross proceeds of $452,800.
Each unit consisted of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share at a price of $0.15 per share for 18 months, subject to accelerated expiry, such expiry being accelerated to 30 days in the event the Company's shares have closed at or above a price of $0.25 per share for ten consecutive trading days.
In connection with this closing of the first tranche of this financing, the Company has paid a finder's fee consisting of an aggregate of $13,184 in cash and has issued 206,000 finder warrants. Each finder warrant entitles the holder to purchase one common share at a purchase price of $0.15 per share for 18 months, subject to accelerated expiry, such expiry being accelerated to 30 days in the event the Company's shares have closed at or above a price of $0.25 per share for ten consecutive trading days.
In compliance with Canadian securities laws, all of the securities issued in connection with this closing are subject to a hold period expiring on December 21, 2009.
About El Nino Ventures Inc.
El Niño Ventures is a junior exploration company, focused on exploring for Copper/Cobalt in the Democratic Republic of Congo ("DRC"). El Niño has an option to acquire a 70% interest in over 350 square kilometers in the world renowned copper belt in the DRC. In addition to our Copper and Cobalt projects in the DRC, the Company holds a 50 percent interest on an extensive land package in the Bathurst Mining Camp with Xstrata Zinc Canada.
On Behalf of the Board of Directors,,
"Jean Luc Roy" Jean Luc Roy, President & CEO
Telephone: +1.604.683.4886 Email:
604.683.4887, or visit www.elninoventures.com
1440 - 1166 Alberni Street, Vancouver, B.C. Canada V6E 3Z3
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release CUSIP#
Note: this release contains forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual future events
or results and are based on current expectations or beliefs. For this purpose,
statements of historical fact may be deemed to be forward-looking statements. In
addition, forward-looking statements include statements in which the Company
uses words such as "continue", "efforts", "expect", "believe", "anticipate",
"confident", "intend", "strategy", "plan", "will", "estimate", "project",
"goal", "target", "prospects", "optimistic" or similar expressions. These
statements by their nature involve risks and uncertainties, and actual results
may differ materially depending on a variety of important factors, including,
among others, the Company's ability and continuation of efforts to timely and
completely make available adequate current public information, additional or
different regulatory and legal requirements and restrictions that may be
imposed, and other factors as may be discussed in the documents filed by the
Company on SEDAR (www.sedar.com), including the most recent reports that
identify important risk factors that could cause actual results to differ from
those contained in the forward-looking statements. The Company does not
undertake any obligation to review or confirm analysts' expectations or
estimates or to release publicly any revisions to any forward-looking statements
to reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events. Investors should not place undue reliance on
You can view the Next News Releases item: Fri Sep 25, 2009, El Nino Ventures Appoints Mr. Harry Barr as Chairman and Acting CEO
You can view the Previous News Releases item: Thu Aug 6, 2009, Votorantim Elects To Option El Nino's Bathurst Camp Projects
You can return to the main News Releases page, or press the Back button on your browser.