El Nino Ventures Amends Terms of Non-Brokered Private Placement
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ELN News July 27, 2009
July 27, 2009
Vancouver, BC -- El Niño Ventures Inc. ("ELN" and
the "Company") (TSX.V: ELN; Frankfurt: E7Q)
announces that further to its news release of May 4, 2009 the Company
has amended its private placement to reduce the price from $0.10 to
$0.08 per unit ("Unit") for gross proceeds of up to $2,000,000.
Each Unit
will consist of one common share (a "Common Share") and one share
purchase warrant (a "Warrant"). Each Warrant entitles the holder to
purchase one Common Share at an amended price of $0.15 per share
(reduced from $0.25) for a period of 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 (reduced from $0.30) for ten consecutive trading days. A
finder's fee may be payable in cash, shares and/or warrants in relation
to this financing, in accordance with regulatory policies. The foregoing
is subject to regulatory approval.
The
proceeds of this private placement will be used to satisfy the Company's
2009 exploration program for the Democratic Republic of Congo ("DRC")
projects and for general working capital.
Mr. Jean Luc Roy,
President & CEO stated: "This financing will give the Company the funds
required to move its DRC copper projects forward. Subject to the
closing of this private placement, drilling is planned on our Kasala
Project and on Research Permit 9316 on which we have an agreement with
Phoenix Mining SPRL.
On Behalf of the Board of Directors,,
"Jean Luc Roy" Jean Luc Roy, President & CEO
Further information:
Mark Feeney
Tel: 1.604.786.2587
mfeeney@elninoventures.com
Toll free
1.877.895.6466 or
Telephone: +1.604.683.4886 Email:
Fax
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#
28335E-10-6
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
forward-looking statements.