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EL NINO CLOSES PRIVATE PLACEMENT AND ISSUES EARLY WARNING REPORT
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ELN News June 20 2016
 

June 20, 2016 Vancouver, BC ‐ El Niņo Ventures Inc. ("ELN" or the "Company") (TSX.V: ELN OTC Pink: ELNOF FRANKFURT: E7Q) announces that it has closed its non brokered private placement raising gross proceeds of $453,955.

The Company issued 22,697,750 units (Units) at a price of $0.02 per Unit pursuant to a discretionary waiver obtained from the TSX Venture Exchange on April 21, 2016 from the $0.05 per share minimum pricing requirements. Each Unit consists of one common share and one non-transferable share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.05 per share for a period of 24 months from closing.

Mr. Harry Barr, Chairman, CEO and a director of the Company purchased 10,500,000 Units from the Company at a price of $0.02 per Unit, pursuant to the private placement.

Prior to the closing of the private placement, Mr. Barr held directly and indirectly 6,366,854 shares and 550,000 options to purchase an additional 550,000 common shares of the Company, representing approximately 18.36% of the Company's issued and outstanding shares on a post-conversion beneficial ownership basis. As a result of Mr. Barr's acquisition pursuant to the private placement, Mr. Barr now holds 16,866,854 common shares and 11,050,000 warrants and options of the Company, representing approximately 39.37% of the Company's current issued and outstanding shares of the Company on a post-conversion beneficial ownership basis

Finder's fees totaling 35,000 shares, 77,000 broker warrants and $840 cash were paid in connection with the private placement.

The shares and warrants issued with respect to the private placement are subject to a four‐month and a day hold period expiring on October 21, 2016 in accordance with Securities Laws. The shares issued are also subject to voluntary pooling restrictions. Completion of the private placement and any finder's fees payable are subject to regulatory approvals.

Proceeds from the private placement in the amount of up to $279,000 will be used for further exploration and development on the Company's Murry Brook polymetallic project in New Brunswick. Up to $66,000 will be used to settle related party debt and up to $108,955 will be used for general working capital.

Further to the Company's news release dated April 21, 2016 the Company plans to complete phase two of its debt restructure. More specifically, the Company has agreed to settle its debt obligations to existing creditors ($0.50 on the $1.00) in the amount of up to $80,054 by issuing up to 1,601,080 common shares at $0.05 per share. After completion of the shares for debt transaction the Company will have settled all outstanding debts.


On Behalf of the Board of Directors

"Harry Barr"

Harry Barr
Chairman & CEO
El Nino Ventures Inc.

Further Information: Tel: +1 604 685 1870 Fax: +1 604 685 8045
Email: info@elninoventures.com or visit www.elninoventures.com

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 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 (www.sedar.com), 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.

 
 

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