El Niño Ventures Inc. Closes Second and Final Tranche of
Non-Brokered Private Placement
TSX.V: ELN
FSE: E7Q.N
OTCQX: ELNOF
VANCOUVER, Dec. 31, 2012 /CNW/ - 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
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.
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.
SOURCE El Nino Ventures Inc.