Pinetree Capital Ltd. Acquires Securities of Oroco Resource Corp.
February 25 2011 - 11:50AM
Marketwired
Pinetree Capital Ltd. (TSX: PNP), announces that through a series
of transactions ending on February 23, 2011, it acquired ownership
of 250,000 common shares ("Common Shares") of Oroco Resource Corp.
("Oroco") through the facilities of the TSX Venture Exchange,
representing approximately 0.5% of the total issued and outstanding
common shares of Oroco as of February 23, 2011. As a result of this
transaction, Pinetree held, as at February 23, 2011, an aggregate
of 4,000,000 common shares of Oroco, including the Common Shares,
and rights to acquire an additional 1,000,000 common shares of
Oroco upon exercise of certain convertible securities (the
"Convertible Securities"). In the event that the Convertible
Securities are fully exercised, the holdings of Pinetree represents
a total of 5,000,000 common shares of Oroco, or approximately 10.2%
of all issued and outstanding common shares as at February 23,
2011, calculated on a partially diluted basis assuming the exercise
of the Convertible Securities only.
This transaction was made for investment purposes and Pinetree
could increase or decrease its investment in Oroco depending on
market conditions or any other relevant factor.
About Pinetree
Pinetree Capital Ltd. ("Pinetree") was incorporated under the
laws of the Province of Ontario and its shares are publicly-traded
on the Toronto Stock Exchange ("TSX") under the symbol "PNP".
Pinetree is a diversified investment and merchant banking firm
focused on the small cap market. Pinetree's investments are
primarily in the resources sector: Uranium and Coal, Oil & Gas,
Precious Metals, Base Metals and Potash, Lithium and Rare Earths.
Pinetree's investment approach is to develop a macro view of a
sector, build a position consistent with the view by identifying
micro-cap opportunities within that sector, and devise an exit
strategy designed to maximize our relative return in light of
changing fundamentals and opportunities.
For more details about Pinetree and its investments, please
visit our website at www.pinetreecapital.com.
Contacts: Pinetree Capital Ltd. Sheldon Inwentash Chairman &
CEO 416-941-9600 Investor Relations: Pinetree Capital Ltd. Richard
Patricio Vice President, Legal and Corporate Affairs 416-941-9600
ir@pinetreecapital.com www.pinetreecapital.com
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