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April 9, 2015. Vancouver, BC - El
Niño Ventures Inc. ("ELN" or the
"Company") (TSX.V: ELN OTC Pink: ELNOF
FRANKFURT: E7Q), El Nino Ventures
Inc.("ELN" or the "Company") and MMG
Africa Investments Limited, ("MMG") have
mutually agreed to terminate the option
agreement under which MMG would acquire
the Company's 70% interest in the Kasala
copper/cobalt permits located in the
Democratic Republic of the Congo ("DRC")
due to the uncertainty of disputed legal
actions initiated by GCP Group ("GCP"),
a minority shareholder of Infinity
Resources Sprl ("Infinity"), the
Company's Joint Venture Company.
ELN and MMG entered into an Option
Agreement on 16 May 2014, whose terms
required the Company to meet certain
conditions precedent that would allow
for MMG to begin an extensive
exploration program on the Kasala
project and potentially exercise the
option to acquire ELN's 70% interest in
the permits. Some conditions precedents
are unfortunately incapable of being
satisfied within the required time frame
due to continued, questionable legal
actions by GCP.
The Company would like to thank MMG and
its management and legal team for its
support and efforts in assisting ELN
during the past year.
The Company is reviewing its position in
continuing to support its endeavor to
maintain ownership in the Kasala
properties on its own or by joining with
a third party.
On Behalf of the Board of Directors
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
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. |
