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El Nino Ventures Inc Announces Closing Of Private Placement


Friday, 4 Oct 2013 06:10pm EDT 

El Nino Ventures Inc announced that, it has completed its final tranche of a non-brokered flow-through and non flow-through private placement of 13,150,000 units for proceeds of $263,000. In aggregate, the private placement has been subscribed for a combined 15,850,000 units for gross proceeds of $317,000. Each non flow-through unit consists of one common share and one-half of one non-transferable share purchase warrant at a price of $0.02 per NFT Unit. Each Warrant will entitle the holder thereof to purchase one additional common share of the Company for a period of 24 months from the closing date at a price of $0.05 per share during the first year and $0.10 per share during the second year. Each flow-through unit consists of one common share and one-half of one non flow-through, non-transferable share purchase warrant at a price of $0.02 per FT Unit. Each Warrant will entitle the holder thereof to purchase one additional non flow-through common share of the Company for a period of 24 months from the closing date at a price of $0.05 per share during the first year and $0.10 per share during the second year. The proceeds from the sale of the final tranche of FT and NFT Units will be used as follows: Maintain 35% earned interest in Murray Brook project: $98,000 Office Lease: $60,000 Insurance: $20,000 Audit: $15,000 Legal Costs: $70,000 Total: $263,000 

Company Quote

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15 Jun 2015