VANCOUVER, Oct. 5, 2012 /CNW/ - El Nino Ventures Inc. ("ELN" or the "Company") announces that Pacific North West Capital Corp., ("PFN") acquired ownership and control of 2,222,222 shares and 1,111,111 warrants of ELN pursuant to the closing of the first tranche of the Company's non-brokered private placement of units at $0.09/unit (non-flow through) and $0.10/unit (flow through) announced in the Company's previous news releases. Mr. Harry Barr reports that as a result of being a director of Pacific North West Capital Corp. ("PFN"), he and the Board of Directors of PFN exercise control over the voting of the now 5,542,109 common shares of ELN that are held by PFN.
There are currently approximately 72,775,016 common shares of ELN issued and outstanding after completion of the first tranche of the Private Placement. As a result of Mr. Barr's personal holdings and those of PFN's, Mr. Barr has ownership of, and/or control and direction over, an aggregate (both directly and indirectly) of 9,305,342 common shares of ELN on an undiluted basis, representing 12.79% of the issued and outstanding shares of the Company, and 13,912,614 shares on a fully diluted basis, representing 14.79% of the 94,011,001 fully diluted shares in the Company.
The common shares of the Company were acquired for investment purposes and Pacific North West Capital Corp. or Mr. Barr may purchase additional securities of the Company, either jointly or individually, in the future for investment purposes.
A copy of the Early Warning Report filed under applicable Canadian provincial securities legislation in connection with Mr. Barr's shareholdings in ELN may be found at www.sedar.com under ELN's profile.
On behalf of the Board of Directors,
COO and Director
El Nino Ventures Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking Statements. Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
SOURCE: El Nino Ventures Inc.
Tel: +1 604 685 1870 Fax: +1 604 685 8045
Email: [email protected],
650-555 West 12th Avenue, City Square, West Tower, Vancouver, B.C., Canada, V5Z 3X7