|El Nino Ventures Inc. (the "Company") announces a non-brokered private placement of up to 1,000,000 units at a price of $0.20 per unit for gross proceeds of $200,000. Each unit will|
consist of one common share in the capital of the Company and one half of one non-transferable share purchase warrant (the "Warrant"), each whole Warrant entitling the holder thereof to purchase one additional common share (the "Warrant Shares") of the Company for a period of twelve (12) months at a purchase price of $0.30 per Warrant Share.
The proceeds of the private placement will be used for new acquisitions and for general working capital.
A finder fee of 5% may be paid in cash or shares.
It is anticipated that certain insiders of the Company will participate in the private placement.
The Company has yet to determine whether a portion of the common shares to be issued will have flow-through privileges attached to them. The foregoing is subject to regulatory approval.
On behalf of the Board of Directors
Harry Barr, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
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