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El Niño Announces Brokered Private Placement
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Dec. 14, 2006 - El Nino Ventures
Vancouver, BC, December 14, 2006,-- El Niņo Ventures Inc. ("El Niņo") (TSX.V: ELN; OTCBB: ELNOF; Frankfurt: E7Q) is pleased to announce that it has engaged Canaccord Capital Corporation to act as agent for a brokered private placement of up  to 1,818,181 flow-through units (the "Flow-Through Units") at a purchase price of $0.55 per flow-through Unit, for gross proceeds of CDN $1,000,000 and up to 3,000,000 Units (the "Units") at a purchase price of $0.40 per Unit, for gross proceeds of CDN $1,200,000.

Each Flow-Through Unit will consist of one flow-through common share and one common share purchase warrant ("Warrant").  Each Warrant entitles the holder to purchase an additional non flow-through common share at a price of $0.65 for a period of 12 months from closing.  

Each Unit will consist of one common share and one-half of one common share purchase warrant ("Warrant").  Each whole Warrant entitles the holder to purchase an additional common share at a price of $0.55 for a period of 12 months from closing.   

The flow-through funds raised from the issuance of the flow-through Units will be used for exploration expenditures, which will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2006 taxation year. The use of the proceeds raised from the Units will be for general working capital and exploration projects outside of Canada.

Upon closing, the Company shall pay Canaccord Capital Corporation 8% of the Gross Proceeds raised, payable in cash and the Agent's Warrants equal to 8% of the securities sold under the Offering. Each Agent's Warrant shall be exercisable for a period of 12 months from closing at a price of $0.55 per share.

The foregoing is subject to regulatory approval.

About El Niņo

El Niņo is an exploration stage company in the midst of a 23,500 meter drill program on the Bathurst Zinc/Base Metals Mining Camp. This is the first part of a 50,000 meter drill program that began in Oct 2006 and will continue on until March 2008. This financing will fortify that El Nino's commitment of $ 5 million  will be met, as stipulated in the Option/Joint Venture Agreement signed with Xstrata Zinc Canada in May 2006. Additional proceeds of this financing will be applied to the further acquisition of projects outside of Canada, and solidify El Nino position as an aggressive international mineral exploration company. 

On Behalf of the Board of Directors,
"Jean Luc Roy"
Jean Luc Roy 
President & COO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
CUSIP# 28335E-10-6

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. This email should not be construed as an offer to buy or sell securities of this company.

 
 

You can view the Next News Releases item: Mon Dec 18, 2006, El Niño Announces Non-Brokered Private Placement

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