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January 8, 2007, Vancouver, BC -- El Niņo
Ventures Inc. (the "Company") is pleased to announce that
further to its news release of December 14, 2006 the Company has closed
the first tranche of its brokered private placement and has issued a
total of 1,558,815 flow-through units at $0.55 per flow-through unit for
total proceeds of $857,348.25. Each flow-through unit consisted of
one flow-through common share and one common share purchase warrant with
each warrant entitling the holder to purchase one additional common
share of the Company at a purchase price of $0.65 until December 28,
2007.
In connection with the closing of the
first tranche of this financing, the Company has paid $68,587.86 in
commission and issued 124,705 broker warrants to Canaccord Capital
Corporation. Each broker warrant entitles the holder to purchase
one common share at a purchase price of $0.55 until December 28, 2007.
In compliance with Canadian securities
laws, all of the securities issued in connection with this closing are
subject to a hold period expiring on April 29, 2007.
About El Niņo Ventures Inc.
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 Niņo'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 Niņo position as an aggressive international
mineral exploration company.
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On
Behalf of the Board of Directors, |
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| "Jean Luc Roy" |
| Jean
Luc Roy |
| President
& COO |
Further information: Toll Free 1.800.667.1870 or 604.685.1870
Email: info@elninoventures.com
Fax 604.685.8045, or visit www.elninoventures.com
2303 West 41st Avenue, Vancouver, BC Canada V6M 2A3
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| The
TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release |
| CUSIP#
28335E-10-6 |
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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.
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