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December 31, 2012 Vancouver, Canada --
El Niño Ventures Inc. ("ELN" and the
"Company") (TSX.V: ELN; Frankfurt:
E7Q.N; OTCQX: ELNOF) is pleased to
announce that it has closed the second
and final tranche of its non-brokered
flow-through and non flow-through
private placement for gross proceeds of
$303,000.
The Company issued 2,866,667 non
flow-through units (NFT Units) at a
price of $0.09 per NFT Unit. Each NFT
Unit consists of one common share and
one-half of one non-transferable share
purchase warrant ("Warrant"). Each whole
Warrant will entitle the holder to
purchase one common share of the Company
at a price of $0.15 per share for a
period of 18 months from closing subject
to an 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 10 consecutive trading days on the
TSX Venture Exchange.
In addition, the Company issued 450,000
flow-through units ("FT Unit") at $0.10
per FT Unit. Each FT Unit consists of
one common flow-through share and
one-half of one non-transferable, non
flow-through, share purchase warrant.
Each whole Warrant will entitle the
holder to purchase one non flow-through
common share of the Company at a price
of $0.16 per share for a period of 18
months from closing subject to an
accelerated expiry, such expiry being
accelerated to 30 days in the event the
Company's shares have closed at or above
a price of $0.26 per share for 10
consecutive trading days on the TSX
Venture Exchange.
The proceeds of this private placement
will be used to fund the 2012
exploration budget at the Murray Brook
Polymetallic project in Bathurst, New
Brunswick and general working capital.
The Company will pay $3,150 and 31,500
warrants in finder's fees in connection
with this second and final tranche
closing of the private placement.
All of the securities to be issued by
the Company in connection with this
private placement will be subject to a
hold period which expires May 1, 2013,
four months and one day after the
closing date.
About El Niño Ventures Inc.
El Niño Ventures Inc. is an
international exploration company,
focused on exploring for zinc, copper,
gold, silver and lead in New Brunswick,
Canada and copper/cobalt in the
Democratic Republic of Congo ("DRC").
On Behalf of the Board of Directors,
"John Oness"
John Oness, COO & Director
Further Information: Tel: +1 604 685
1870 Fax: +1 604 685 8045
Email: info@elninoventures.com or visit www.elninoventures.com
650-555 West 12th Avenue, City Square, West Tower, Vancouver, B.C.,
Canada, V5Z 3X7
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.
Cautionary Note Regarding Forward Looking Statements. 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. |
