06:31:53 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



El Nino Ventures Inc (2)
Symbol ELN
Shares Issued 76,091,669
Close 2013-09-12 C$ 0.015
Market Cap C$ 1,141,375
Recent Sedar Documents

ORIGINAL: El Nino Ventures closes $54,000 first tranche

2013-09-12 16:46 ET - News Release

Received by email:

File: 20131309 Pr Placement Announces Relief Measure First Tranche Close FINAL.doc


El Niño Ventures Inc. Closes First Tranche of Private Placement

September 12, 2013  Vancouver, Canada - El Niño Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E
--->7Q; OTCQX: ELNOF is pleased to announce that it has completed the first tranche closing of its non-brokered flow-throu
--->gh and non flow-through private placement for gross proceeds of $54,000.
The Company issued 2,500,000 non flow-through units (NFT Units) at a price of $0.02 per NFT Unit.  Each NFT Unit consi
--->sts of one common share and one-half of one non-transferable share purchase warrant ("Warrant"). Each Warrant will ent
--->itle the holder thereof to purchase one additional common share of the Company for a period of 24 months from the clos
--->ing date at a price of $0.05 per share during the first year and $0.10 per share during the second year.  
In addition, the Company issued 200,000 flow-through units ("FT Unit") at $0.02 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 W
--->arrant will entitle the holder thereof to purchase one additional common share of the Company for a period of 24 month
--->s from the closing date at a price of $0.05 per share during the first year and $0.10 per share during the second year
--->.  
The private placement is in reliance on the temporary relief measures established by the TSX Venture Exchange (the "Ex
--->change"), and is being conducted in accordance with the temporary relief criteria set out in the Exchange's bulletin o
--->f April 12, 2013, in relation to the extension and modification of temporary relief from certain pricing requirements 
--->(the "Temporary Relief Measures").  The Company has paid $280.00 and 14,000 warrants in finder's fees in connection wi
--->th this first tranche Closing.  This private placement has been approved by the Company's board of directors, excludin
--->g those directors that may have a direct interest in the private placement.
The proceeds from the sale of the first tranche of NFT Units will be used as follows:
Pending Arbitration Costs:  $25,000
Legal Costs: $15,000
AGM Costs:  $10,000
Maintain 35% earned interest in Murray Brook project:  $4,000
Total:  $54,000
The Company confirms that no funds raised as part of the private placement will be used to pay any liabilities owed to
---> any related parties in this Closing.  The shares 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 finder's fees p
--->ayable is subject to regulatory approvals, including approval of the Exchange under Temporary Relief Measures.
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. The NI43-101 Technical Report is now filed on SEDAR 
--->and is also available on the ELN website (see http://www.elninoventures.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.  A $2 million dollar drill 
--->program was announced on September 10, 2013. (see news release).
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



















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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