By Devika Patel
Knoxville, Tenn., Oct. 16 - El Nino Ventures Inc. announced a C$1.5 million non-brokered private placement of units.
The company will sell 21,428,571 units of one common share and one warrant at C$0.07 per unit. The warrants are exercisable at C$0.15 each for 18 months.
Proceeds will be used to advance the DRC projects, acquire new projects and for general working capital.
El Nino Ventures, based in Vancouver, B.C., is an exploration-stage company engaged in the acquisition, exploration and development of mineral properties.
| Issuer: | El Nino Ventures Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 21,428,571
|
| Price: | C$0.07
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 16
|
| Stock symbol: | TSX Venture: ELN
|
| Stock price: | C$0.075 at close Oct. 16
|
| Market capitalization: | C$3.04 million
|
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