03:11:49 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



El Nino Ventures Inc (2)
Symbol ELN
Shares Issued 76,091,669
Close 2013-08-26 C$ 0.02
Market Cap C$ 1,521,833
Recent Sedar Documents

El Nino Ventures arranges $500,000 private placement

2013-08-26 18:30 ET - News Release

Mr. Harry Barr reports

EL NINO VENTURES INC. ANNOUNCES $500,000 PRIVATE PLACEMENT

El Nino Ventures Inc. intends to complete a non-brokered flow-through and non-flow-through private placement of up to a combined 25 million units for gross proceeds up to $500,000.

Each non-flow-through unit will consist of one common share and one-half of one non-transferable share purchase warrant at a price of two cents per NFT unit. Each warrant will entitle the holder thereof to purchase one additional common share of the company for a period of 24 months from the closing date at a price of five cents per share during the first year and 10 cents per share during the second year.

Each flow-through unit will consist of one common share and one-half of one non-flow-through, non-transferable share purchase warrant at a price of two cents per FT unit. Each warrant will entitle the holder thereof to purchase one additional non-flow-through common share of the company for a period of 24 months from the closing date at a price of five cents per share during the first year and 10 cents per share during the second year.

The pricing of the offering is in reliance on the temporary relief measures established by the TSX Venture Exchange, and therefore the offering and pricing of the offering require approval of the exchange having regard to the temporary relief criteria set out in the exchange's bulletin of April 12, 2013, in relation to the extension and modification of temporary relief from certain pricing requirements.

The proceeds from the private placement received from the sale of the flow-through units will be used for the the Murray Brook polymetallic project. The proceeds from the sale of NFT units will be used for working capital purposes. The shares to be issued with respect to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. Completion of the offering and any finders' fees payable are subject to regulatory approvals, including approval of the exchange under the temporary relief measures.

In addition, the company's annual general and special meeting has been rescheduled from Wednesday, Sept. 18, 2013, to Wednesday, Sept. 25, 2013.

Votorantim Metals Canada Inc. statement

Technical details in this news release were provided by VMC, which professional geologists conduct operations consistent with mineral industry best practices. VMC accepts no responsibility for this news release or any inferences made from the technical details provided herein.

About Votorantim Metals Canada

VMC is a subsidiary of Votorantim Metais, a company that is part of the Votorantim Group that was founded in Brazil in 1918. The Votorantim Group operates in 20 countries and has over 40,000 employees. Votorantim Metais is the largest electrolytic nickel producer in Latin America, and one of the world's leaders in the production of zinc, aluminum and nickel. VMC in conjunction with Glencore Canada Corp. and El Nino Ventures is operator of the Bathurst option and joint venture, which is actively exploring for base metal deposits within the Bathurst mining camp.

We seek Safe Harbor.

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