|
May
01, 2017 Vancouver, BC - El Niño
Ventures Inc. ("ELN" or the "Company") (TSXV:
ELN; OTC Pink: ELNOF; FSE: E7Q) EL Nino
Ventures ("ELN") is pleased to
provide an update of the acquisition of
the Murray Brook Deposit in the
Brunswick Mining Camp (BMC). ELN is
pleased to report that by mutual
agreement ELN and PUMA have agreed to
modify the terms of the initial closing
of the asset purchase agreement. The
initial payment has been modified to a
cash payment of $300,000, from which,
$200,000 has already been delivered to
El Nino and the issuance of 5,000,000
Puma's shares at the closing date.
The second payment of $400,000 is
postponed to April 30th, 2018, has
increased to $500,000 and will be added
to the existing payment of $1,000,000
due for April 30th, 2018 for a total
amount of $1.5M. In the event that Puma
raises $1M during the first 6 months
(up-to October 30th-2017), then the
payment and the schedule remain the same
and Puma will pay $400,000 on or before
October 30th-2017.
Except as specifically modified pursuant
to this release, no other changes or
modifications to the Asset Purchase
Agreement are intended or implied or
have otherwise been agreed between the
Parties, and in all other respects the
Asset Purchase Agreement is hereby
specifically ratified, restated and
confirmed by the Parties. The
modifications have to be reviewed by the
usual regulatory agencies and the
closing is expected shortly.
The Murray Brook property consists of
Mining Lease 252 and contiguous Mineral
Claim Block 4925 (245 claims) located 4
km west of the producing Caribou Mine,
which is owned and operated by Trevali
Mining Corporation. With the purchase of
the Murray Brook Deposit and Murray
Brook Minerals inc., Puma will hold
significant assets in the Bathurst
Mining Camp, which has produced over 120
million tons of ore since the opening of
the Brunswick No.12 Mine.
El Nino will continue to maintain its
current interest in the Bathurst Zinc
Project - Bathurst Option Joint
Venture (BOJV) also located in the
Bathurst Mining Camp.
For more information on the Company
please go to
www.elninoventures.com
On Behalf of the Board of Directors
"Harry Barr"
Harry Barr
Chairman & CEO
El Nino Ventures Inc.
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. |
