Business
El Nino Ventures Amends Terms of Non-Brokered Private Placement
VANCOUVER, July 27 /CNW/ - El Nino Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt...
About this update from Metalquest Mining Inc
[{"type":"text","content":"\n\n\n\nVANCOUVER, July 27 /CNW/ - El Nino Ventures Inc. ("ELN" and the\n"Company") (TSX.V: ELN; Frankfurt: E7Q) announces that further to its news\nrelease of May 4, 2009 the Company has amended its private placement to reduce\nthe price from $0.10 to $0.08 per unit ("Unit") for gross proceeds of up to\n$2,000,000.\n\n\nEach Unit will consist of one common share (a "Common Share") and one\nshare purchase warrant (a "Warrant"). Each Warrant entitles the holder to\npurchase one Common Share at an amended price of $0.15 per share (reduced from\n$0.25) for a period of 18 months, subject to accelerated expiry, such expiry\nbeing accelerated to 30 days in the event the Company's shares have closed at\nor above a price of $0.25 per share (reduced from $0.30) for ten consecutive\ntrading days. A finder's fee may be payable in cash, shares and/or warrants in\nrelation to this financing, in accordance with regulatory policies. The\nforegoing is subject to regulatory approval.\n\n\nThe proceeds of this private placement will be used to satisfy the\nCompany's 2009 exploration program for the Democratic Republic of Congo\n("DRC") projects and for general working capital.\n\n\nMr. Jean Luc Roy, President & CEO stated: "This financing will give the\nCompany the funds required to move its DRC copper projects forward. Subject to\nthe closing of this private placement, drilling is planned on our Kasala\nProject and on Research Permit 9316 on which we have an agreement with Phoenix\nMining SPRL.\n\n\nOn Behalf of the Board of Directors,\n\n"Jean Luc Roy"\nJean Luc Roy, President and CEO\n\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as\nthat term is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release\nCUSIP No. 28335E-10-6\n\n\nNote: this release contains forward-looking statements that involve risks\nand uncertainties. These statements may differ materially from actual future\nevents or results and are based on current expectations or beliefs. For this\npurpose, statements of historical fact may be deemed to be forward-looking\nstatements. In addition, forward-looking statements include statements in\nwhich the Company uses words such as "continue", "effor...