By Devika Patel
New York, May 4 - El Nino Ventures Inc. announced it will raise up to C$2.25 million in a non-brokered private placement of units.
The company will sell up to 22.5 million units at C$0.10 per unit. Each unit will consist of one share and one warrant. Each warrant is exercisable at C$0.25 for 18 months.
The warrants may expire sooner if the company's shares close at or above C$0.30 for 10 consecutive trading days. In that case, the warrants will expire 30 days after such an event.
Proceeds will be used for exploration and general working capital.
El Nino Ventures, based in Vancouver, B.C., is an exploration stage company engaged in the acquisitions, exploration and development of mineral properties.
| Issuer: | El Nino Ventures Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.25 million (maximum)
|
| Units: | 22.5 million (maximum)
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | May 4
|
| Stock symbol: | TSX Venture: ELN
|
| Stock price: | C$0.07 at close May 1
|
| Market capitalization: | C$3.42 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
