01:24:24 EDT Thu 25 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

ORIGINAL: El Nino Ventures arranges $500,000 private placement

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

Received by email:

File: 082613ELN - ELN announces $500,000 Private placement.doc


El Niño Ventures Inc. Announces $500,000 Private Placement

August 26, 2013  Vancouver, Canada - El Niño Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q;
---> OTCQX: ELNOF announces that it intends to complete a non-brokered flow-through and non flow-through private placement
---> of up to a combined 25,000,000 units for gross proceeds up to $500,000.
Each non flow-through unit ("NFT Unit") will consist of one common share and one-half of one non-transferable share pu
--->rchase warrant ("Warrant") at a price of $0.02 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 $0.05 per sha
--->re during the first year and $0.10 per share during the second year. 
Each flow-through unit ("FT Unit") will consist of one common share and one-half of one non flow-through, non-transfer
--->able share purchase warrant ("Warrant") at a price of $0.02 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 dat
--->e at a price of $0.05 per share during the first year and $0.10 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 (t
--->he "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 an
--->d modification of temporary relief from certain pricing requirements (the "Temporary Relief Measures").
The proceeds from the private placement received from the sale of the flow-through units will be used for the the Murr
--->ay 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 ap
--->plicable Canadian Securities Laws. Completion of the Offering and any finder's fees payable is subject to regulatory a
--->pprovals, including approval of the Exchange under Temporary Relief Measures.
In addition, the Company's Annual General and Special Meeting has been re-scheduled from Wednesday, September 18, 2013
---> to Wednesday, September 25, 2013.
About El Niño Ventures Inc. Bathurst Projects

El Niño Ventures Inc. has two active projects in the Bathurst Mining Camp:

1. Murray Brook Project

The Murray Brook Project is located 60 km west of Bathurst, in the northwest part of the Bathurst Mining Camp (Figure 
--->1). The Murray Brook deposit is a zinc-lead-copper-silver massive sulphide which is the subject of a recently complete
--->d Preliminary Economic Assessment.  The project is supported by excellent infrastructure including paved roads, grid e
--->lectricity and communities to provide goods, services and skilled labour. 
ELN and VMC currently own 100% of the Murray Brook Project and VMC is the operator. VMC controls 65% and ELN controls 
--->35%.




Figure 1. Murray Brook Project and Camel Back property location map, Bathurst Mining Camp,
New Brunswick.

To date, more than 28,000 metres of drilling has been completed on the Murray Brook Project.  The first NI43-101 miner
--->al resource estimation and the first metallurgical results were published in press releases dated February 2012 and Ja
--->nuary 2013, respectively. On June 5, 2013 a positive Preliminary Economic Assessment was announced (see news release).
--->  The results of the PEA demonstrate the potential technical and economic viability of establishing a new mine and mil
--->l complex on the Murray Brook property.  The projected cash flows indicate an after-tax NPV at a 5% discount rate of $
--->96.4 million, an IRR of 11.4%, and a payback period of 5.4 years (see news release).  The NI43-101 Technical Report is
---> now filed on SEDAR and is also available on the ELN website (see http://www.elnventures.com).
2. Bathurst Option Joint Venture 

The BOJV project is a Tri‐Party Agreement with Glencore Canada Corporation and VMC covering much of the area of 
--->the Bathurst Mining Camp in northeastern New Brunswick (Figure 1).  The project commenced in July 2009. VMC can earn 5
--->0% by spending $10 million over 5 years. VMC can further increase its interest to 70% by spending an additional $10 mi
--->llion over 2 more years. Exploration expenditures to date by VMC total about $6.7 million.  
BOJV project originally consisted of 4712 claims owned 50% ELN and 50% Glencore Canada Corporation and 2907 claims own
--->ed 100% by Glencore Canada Corporation, together with an Area of Interest in which ELN and Glencore Canada Corporation
---> hold equal interest.  Due to the Area of Interest, the BOJV generates new projects for ELN at no initial cost.  An ex
--->ample of such project generation for ELN is the Murray Brook Project. 


Votorantim Metals Canada Inc. Statement
Technical details in this news release were provided by VMC whose professional geologists conduct operations consisten
--->t with mineral industry best practices.  VMC accepts no responsibility for this news release or any inferences made fr
--->om the technical details provided herein.
About Votorantim Metals Canada Inc.
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 twenty countries and has over 40,000 employees.  Votorantim Metais is the large
--->st electrolytic nickel producer in Latin America and one of the world's leaders in the production of zinc, aluminum an
--->d nickel.   VMC in conjunction with Glencore Canada Corporation and El Nino Ventures is operator of the Bathurst Optio
--->n and Joint Venture which is actively exploring for base metal deposits within the Bathurst Mining Camp.
About El Nino Ventures Inc.
El Niño Ventures Inc. is an international exploration company, focused on exploring for zinc, lead, copper, silve
--->r and gold in New Brunswick, Canada and copper in the Democratic Republic of Congo ("DRC").

On Behalf of the Board of Directors


Harry Barr
Chairman & CEO, El Niño 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. 
Cautionary Note Regarding Forward Looking Statements. Note:  This release contains forward-looking statements that inv
--->olve risks and uncertainties.  These statements may differ materially from actual future events or results and are bas
--->ed on current expectations or beliefs.  For this purpose, statements of historical fact may be deemed to be forward-lo
--->oking 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 in
--->volve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, i
--->ncluding, among others, the Company's ability and continuation of efforts to timely and completely make available adeq
--->uate current public information, additional or different regulatory and legal requirements and restrictions that may b
--->e imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), inclu
--->ding 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 anal
--->ysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect even
--->ts or circumstances after the date hereof or to reflect the occurrence of unanticipated events.  Investors should not 
--->place undue reliance on forward-looking statements.



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