El Niņo Ventures Inc. ("ELN"
and the "Company") (TSX.V: ELN; Frankfurt: E7Q) is pleased to announce
non-brokered flow-through and non flow-through private placement of up to
21,428,571 units for proceeds up to $1,500,000.
Each non flow-through unit ("NFT Unit") at a price of $0.07 per NFT Unit will
consist of one common share and one-half of one non-transferable share purchase
warrant ("Warrant"). Each whole Warrant will entitle the holder to purchase one
common share of the Company at a price of $0.10 per share for 18 months from
closing, subject to an accelerated expiry, such expiry being accelerated to 30
days in the event the Company's shares have closed at or above a price of $0.15
per share for 10 consecutive trading days on the TSX Venture Exchange.
Each flow-through unit ("FT Unit") will consist of one common flow-through share
in the capital of the Company and one-half of one share purchase warrant at a
price of $0.10 per FT Unit. Each whole warrant will entitle the holder thereof
to purchase one additional non flow-through common share of the Company at $0.20
for a period of one year from closing.
Finder's fees may be payable. The foregoing is subject to regulatory approval.
The proceeds of this private placement will be used to acquire new projects in
North America, Africa and general working capital.
About El Niņo Ventures Inc:
El Niņo Ventures Inc. is an exploration company, focused on exploring for
Copper/Cobalt in the Democratic Republic of Congo ("DRC"). In addition the
Company had entered into an Option agreement with Votorantim and Xstrata Zinc
whereby Votorantim, by incurring exploration expenditures of $10 million over a
period of 5 years. Votorantim may further elect to increase its interest to 70%
by spending another $10 million over an additional two years. The Votorantim
option is on an extensive land package in the Bathurst Mining Camp that ELN
currently shares 50/50 with Xstrata Zinc Canada.
In February 2011, ELN announced that a $5 million exploration program has begun
consisting of airborne and ground geophysics and will include a 10,000 metre
drill program which is slated for commencement in the spring of 2011. (See press
release dated February 23, 2011).
In January 2011, ELN announced that it has provided notice Votorantim Metals
Canada Inc. (Votorantim) to enter into an Option Agreement on the Murray Brook
Polymetallic Deposit, situated in the Bathurst Mining Camp in New Brunswick,
Canada. (See press release dated January 20,2011).
ELN's management are aggressively negotiating to acquire additional projects in
an international scale that meet our corporate objectives.
On Behalf of the Board of Directors,
Harry Barr, Chairman and Acting CEO
TSX Venture Exchange or 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.
Note: this release contains
forward-looking statements that involve risks and uncertainties. These
statements may differ materially from actual future events or results and are
based on current expectations or beliefs. For this purpose, statements of
historical fact may be deemed to be forward-looking 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 involve risks and uncertainties, and actual results may differ materially
depending on a variety of important factors, including, among others, the
Company's ability and continuation of efforts to timely and completely make
available adequate current public information, additional or different
regulatory and legal requirements and restrictions that may be imposed, and
other factors as may be discussed in the documents filed by the Company on SEDAR
including 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
analysts' expectations or estimates or to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events. Investors should
not place undue reliance on forward-looking statements.