El Niño Ventures Inc. Proceeding with $1,500,000 Non-Brokered Private Placement

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[{"type":"text","content":"\n\n\n\n\n\nTSX.V: ELN FSE: E7Q OTCQX: ELNOF\n\n\nVANCOUVER, Feb. 2, 2012 /CNW/ - El Niño Ventures Inc. (\"ELN\" and the \"Company\") (TSX.V: ELN; Frankfurt:\n E7Q; OTCQX: ELNOF) announces that further to its news release dated November 21, 2011, the\n Company will be proceeding with its non-brokered flow-through and non\n flow-through private placement of up to 10,000,000 units for gross\n proceeds up to $1,500,000.\n\n\nEach non flow-through unit (\"NFT Unit\") at a price of $0.13 per NFT Unit\n will consist of one common share and one-half of one non-transferable\n share purchase warrant (\"Warrant\"). Each whole Warrant will entitle the\n holder to purchase one common share of the Company at a price of $0.23\n per share for 18 months from closing, subject to an accelerated expiry,\n such expiry being accelerated to 30 days in the event the Company's\n shares have closed at or above a price of $0.40 per share for 10\n consecutive trading days on the TSX Venture Exchange.\n\n\nEach flow-through unit (\"FT Unit\") will consist of one common\n flow-through share in the capital of the Company and one-half of one\n non flow-through share purchase warrant at a price of $0.15 per FT\n Unit.  Each whole warrant will entitle the holder thereof to purchase\n one additional non flow-through common share of the Company at $0.25\n for a period of 18 months from closing subject to an accelerated\n expiry, such expiry being accelerated to 30 days in the event the\n Company's shares have closed at or above a price of $0.40 per share for\n 10 consecutive trading days on the TSX Venture Exchange.\n\n\nThe proceeds of this private placement will be used to fund the 2012\n exploration budget at the Murray Brook Polymetallic project in\n Bathurst, New Brunswick and general working capital.\n\n\nThe Company may pay finder's fees in connection with this private\n placement as permitted by applicable securities laws and the TSX\n Venture Exchange.  All of the securities to be issued by the Company in\n connection with this private placement will be subject to a hold period\n which expires four months and a day after the closing date.\n\n\nThe closing of the private placement is subject to approval from the TSX\n Venture Exchange.\n\n\nAbout El Niño Ventures Inc.:\n\n\nEl Niño Ventures Inc. is an international exploration com...

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