January 28, 2010 (FinancialWire) — El Nino Ventures Inc. (TSX Venture: ELN) (OTC: ELNOF) said it has now completed a non-brokered private placement and has issued five million units at a price of $0.10 per Unit for gross proceeds of $500,000.

Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a purchase price of $0.15 for a period of 24 months.

In connection with the closing of this financing, the company has paid a finder’s fee of $5,400 in cash.

Vancouver-based El Nino Ventures is an exploration company, focused on exploring for copper and cobalt in the DRC. In addition, the company holds a 50% interest in a base metal project located within the Bathurst mining camp, New Brunswick. El Nino recently entered into an option agreement with Votorantim Metals Canada Inc. and Xstrata Zinc whereby Votorantim may earn a 50% interest in El Nino’s landholdings by expending $10 million over five years and may further increase its interest in El Nino’s landholdings to 70% by expending an additional $10 million over a further two years.

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