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El Nino Ventures Ltd

Publié le 27 octobre 2014

El Nino Receives DRC Supreme Court Approval for All Arbitration AwardsTo be Applied in the DRC Against GCP Group

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El Nino Receives DRC Supreme Court Approval for All Arbitration AwardsTo be Applied in the DRC Against GCP Group

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 27, 2014) - El Niño Ventures Inc. ("ELN") (TSX VENTURE:ELN)(ELNOF)(FRANKFURT:E7Q), is pleased to report that the Supreme Court in Lubumbashi, Democratic Republic of the Congo has approved the Company's application (Exequatur) to have all of the awards and conditions received from the International Commercial Arbitration held in British Columbia applied in the Democratic Republic of the Congo (DRC). Following the Company's successful outcome in the International Arbitration held in Vancouver, British Columbia, El Nino pursued having the awards in Arbitration applied in the DRC. This process required a concerted and coordinated effort on the part of ELN's management and its legal counsel in both Canada and the DRC to file the Exequatur application, along with a comprehensive list of supporting documents. These documents included the key components of the Arbitration rulings and the awards rendered in El Nino's favour. The Company is now taking steps to implement and enforce the following awards against GCP Group;

  • A declaration was made that Exploration permits No. 5214 (Kasala), 5215, 5216 and 5217 are the property of Infinity Resources Sprl, not GCP's.

  • GCP must pay ELN damages in the amount of US$101,850.32, ELN may set off against the US$100,000 final installment owing under the Joint Venture Agreement and Option Agreement to complete the earn-in for El Nino's 70% Interest in the Kasala Permits.

  • GCP must pay additional costs to El Nino Ventures in the amount of CDN$431,532. Post-award interest is payable on all costs awarded including the net amount of USD$1,850.32 for damages as well as CDN$431,532 for arbitration costs, at a rate of 5% per annum compounded annually from March 21, 2014 until paid.

  • GCP must transfer 20% of the infinity shares to Mr. Hassan Sabra. For the sake of clarity, GCP must transfer to Mr. Sabra two thirds of the 30% of the shares in Infinity that it has held for Mr. Sabra. (Infinity Resources Sprl - 70% ELN/20% H. Sabra/10% GCP)

  • A declaration was made that George Kavvadias and Global Consulting Group Ltd. (GCP) have no right to participate in the activities of Infinity Resources beyond the rights as a minority 10% shareholder.

  • Global Consulting Group Ltd. (GCP) must return all assets of Infinity Resources Sprl to the control of El Nino Ventures including but not limited to all mining permits and site, vehicles, equipment, drill core and data. GCP must act reasonably to ensure a smooth transition and transfer of the Infinity assets to ELN who is the major shareholder and operator of the joint venture company, Infinity Resources Sprl.

The Company will now begin the process of re-establishing control over its corporate affairs in the DRC. The Company is taking the necessary steps within its Joint Venture Company, Infinity Resources Sprl so that it can implement the changes needed to do so.

Harry Barr, CEO, stated, "It has been a long drawn out process, but we were not prepared to allow the assets of the Company be taken by fraudulent means and deprive our shareholders of the potential value that we believe the Kasala permits hold. The combination of winning the Arbitration in British Columbia and having the courts in the DRC approve ELN's awards and having them applied in the DRC is a decisive victory against George Kavvadias and GCP Group in their efforts to have the Kasala permits fraudulently transferred into their company. For the first time since 2009 we are now in a position to begin demonstrating control over our Joint Venture interests and corporate affairs in the DRC. We look forward to advancing the Kasala project and bringing value to our shareholders."

Further to the Company's news release dated October 9, 2014, the Company has retained Paul Searle to provide investor relations services to the Company on a part time month to month basis for a fee of up to $4,000 per month.

The International Metals Group (including Next Gen Metals Inc., El Nino Ventures Inc., Pacific North West Capital Corp. and Southern Sun Minerals Inc.) (the "IMG Group") has retained the services of Greenchair Solutions Ltd. ("Greenchair") to provide digital social media services to the IMG Group.

In exchange for the services of Greenchair, during the first three months, El Nino has agreed to issue 214,285 shares of the Company at a deemed value of $0.07 subject to regulatory acceptance. All shares issued will be subject to a four month and a day holding period from the date of issuance.

On Behalf of the Board of Directors,

Harry Barr, Chairman & CEO

El Niño 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. 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.

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Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

El Nino Ventures Ltd

EXPLORATEUR
CODE : ELN.V
ISIN : CA28335E3041
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El Nino Ventures est une société d’exploration minière d'argent et d'or basée au Canada.

El Nino Ventures détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont KASALA en Republique Democratique Du Congo et BATHURST et BANCROFT au Canada.

El Nino Ventures est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 3,1 millions CA$ (2,5 millions US$, 2,3 millions €).

La valeur de son action a atteint son plus haut niveau récent le 15 août 1997 à 9,90 CA$, et son plus bas niveau récent le 24 mars 2016 à 0,01 CA$.

El Nino Ventures possède 61 610 000 actions en circulation.

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Financements de El Nino Ventures Ltd
04/10/2013Niño Ventures Inc. Announces Closing of Private Placement an...
11/09/2013and Private Placement - El Nino Ventures
08/04/2011Closes Non Brokered Private Placement
02/12/2009Closes $1.5 Million Non-Brokered Private Placement; Update o...
26/08/2009First Tranche Closing Non-brokered Private Placement
27/07/2009Ammends Terms of Non-Brokered Private Placement
Nominations de El Nino Ventures Ltd
25/09/2009Appoints Mr. Harry Barr as Chairman and Acting CEO
27/03/2008appoints senior geologist to head its exploration program in...
12/10/2007Announces Appointment of New Directors and Chief Executive O...
Projets de El Nino Ventures Ltd
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16/01/2013(Bathurst)Releases Phase 1 Metallurgical Results for the Murray Brook ...
23/10/2012(Bathurst)Exploration Update on the Bathurst Option JV Base Metals Pro...
18/09/2012EXPANDS ITS PROJECT INTEREST WITH BRAZIL'S SECOND LARGEST MI...
07/09/2012Announces completion of its 35% Earn-In, Receives Notice of ...
28/08/2012announces a 122 metre thick mineralized interval of massive ...
17/07/2012(Bathurst)Drills 9.23 % Zinc, 108.7 gpt Silver, 0.18 % Copper, 0.336 g...
24/04/2012(Bathurst)Exploration Update on the Bathurst Mining Camp (BMC) Base Me...
27/03/20122012 Exploration Program on the Murray Brook Polymetallic Ba...
04/03/2012Northern Miner article: El Nino Ventures posts new resource ...
23/02/2011(Bathurst)2011 Exploration Program on the Bathurst Mining Camp, New Br...
11/03/2010(Kasala)Reports Soil Geochemistry Sampling Results on the Kasala Cop...
24/07/2009(Bathurst)Options Bathurst Project to VotorantimMetals Canada Inc.
25/02/2009(Kasala)Identifies Additional Targets On The Company's Kasala Projec...
01/02/2008intersects 10 meters of 3.50% Cu and 5 meters of 1.90% Cu, i...
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Communiqués de Presse de El Nino Ventures Ltd
20/06/2016EL NINO CLOSES PRIVATE PLACEMENT AND ISSUES EARLY WARNING RE...
20/06/2016Early Warning Report
16/06/2016El Nino announces extension of private placement and issues ...
22/04/2016El Nino Announces Private Placement of up to $500,000; Negot...
10/07/2015Democratic Republic of the Congo (DRC) Corporate Update
09/04/2015MMG Limited Terminates Option Agreement with El Nino
27/10/2014El Nino Receives DRC Supreme Court Approval for All Arbitrat...
27/10/2014El Nino Receives DRC Supreme Court Approval for All Arbitrat...
23/09/2014El Nino Seeks Joint Venture Partner for Zinc-Lead Exploratio...
20/05/2014El Nino Options the Kasala Project to MMG Limited
02/04/2014El Nino Ventures Wins Final Award on all Costs of the Intern...
20/03/2014El Nino Ventures Inc. Grants Options
06/01/2014Wins International Commercial Arbitration Against George Kav...
23/07/2013(Bathurst)Positive Preliminary Economic Assessment for Murray Brook Zn...
05/06/2013(Bathurst)Positive Preliminary Economic Assessment for Murray Brook Zn...
13/11/2012Update from the Chairman
31/10/2012(Bathurst)Developing Bathurst's Largest NI 43-101 Polymetallic Deposit
02/10/2012Ni=F1o Ventures Inc. announces a 45.4 metre drill intersecti...
26/09/2012Niño Ventures retains Renmark Financial Communications
14/08/2012announces a 4.3% Zinc, 1.4% Lead and 54 g/t Silver over 81 M...
30/07/2012announces a 10.34 % Zinc, 126.0 gpt Silver, 0.29 % Copper, 1...
27/06/2012(Bathurst)continues to intersect High Grade Zinc, Gold and Silver Over...
05/06/2012(Bathurst)Announces High Grade Zinc, Gold and Silver intersections ove...
17/05/2012(Bathurst)Announces High Grade Zinc, Lead and Silver on Phase II 18,00...
11/05/2012(Bathurst)Ni=F1o Announces Initial 50% Earn-In for Murray Brook Projec...
17/04/2012Ni=F1o Ventures Inc. Announces SEDAR Filing of NI 43-101 Min...
28/02/2012(Bathurst)Announces an Initial NI 43-101 Mineral Resource Estimate for...
23/01/2012(Bathurst)Announces Additional High Grade Zinc, Lead and Silver Over B...
16/01/2012(Bathurst)Continues to Intersect High Grade Zinc, Lead and Silver Over...
28/11/2011(Bathurst)Reports High Grade Zinc, Lead and Silver over Broad intercep...
16/09/2011Joins OTCQX -- "ELNOF"
30/08/2011(Bathurst)Significant drill results continue to be intersected in the ...
12/07/2011Ni=F1o Ventures Announces $1=2C000=2C000=2C 6650 MeterDrill ...
24/05/2011amends press release of April 26, 2011
11/05/2011Up to 27 Metres (88.6 ft) of 9.56% Zinc; 122.1 g/t (3.56 opt...
25/04/2011An Interview of Harry Barr, Chairman and Acting CEO of El Ni...
11/04/2011DEMOCRATIC REPUBLIC OF CONGO (DRC) COURT RULES IN FAVOUR OF ...
07/03/2011Increases Private Placement to $2,000,000
04/03/2011Ni=F1o Ventures Appoints Colin Bird to Advisory Board
05/01/2011Hearing Update Regarding Claims Against George Kavvadias and...
24/06/2010Litigation in the DRC Dismissed; El Nino Files $850,000 Coun...
04/05/2010Votorantim Metals Canada Inc. finalizes Option/Joint Venture...
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16/12/2008Completes Acquisition in the DRC
03/09/2008 at the Las Vegas Hard Assets Investment Conference
21/07/2008makes new Acquisition in the DRC
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13/05/2008DRC Exploration Program Update
05/05/2008Commences Irish Drill Program
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21/02/2008Update on Democratic Republic of Congo Projects
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04/02/2008acquires new Copper Project in the Democratic Republic of Co...
21/01/2008Update on Exploration Program in the Democratic Republic of ...
10/12/2007Update on Exploration program Project in the Democratic Repu...
28/11/2007 Completes 7,000 Meter Drill Program on Copper Project in th...
13/11/2007update on their drill program in the Democratic Republic of ...
06/11/2007New Office
25/10/2007expands drill program to 7,000 meters using a second drill r...
09/10/2007 5,000 meter drilling program in the Democratic Republic of ...
20/09/2007Identifies New Copper Mineralized Zone on Properties in the ...
20/08/2007to start 5,000 Meter Drill Program on their Democratic Repub...
02/08/2007to Commence Airborne Geophysics, Followed by Initial Drill P...
25/06/2007& Xstrata Zinc to Commence 25,000 m Drill Program on Bathurs...
22/06/2007Mining expertise helps El Nino Ventures find success
14/06/2007Begins Work on Copper Mountain Project in Democratic Republi...
11/06/2007Starts Operations in the (DRC) Congo and the Government of N...
20/04/2007Outlook for 2007 -2008 Work Program and Report on the Bathur...
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