Pinetree Capital Ltd. Acquires Securities of Strategic Resources Inc.
February 25 2011 - 3:35PM
Marketwired
Pinetree Capital Ltd. (TSX: PNP), announces that on February 24,
2011, it acquired ownership of 2,000,000 common shares ("Common
Shares") and 2,000,000 common share purchase warrants (the
"Warrants") of Strategic Resources Inc. ("Strategic"). Each Warrant
entitles the holder to acquire one common share of Strategic at a
price of $0.16 until February 22, 2012 and at a price of $0.21
until February 22, 2013. In the event that the Warrants are fully
exercised, these holdings represent approximately 5.4% of the total
issued and outstanding common shares of Strategic as of February
24, 2011, calculated on a partially diluted basis assuming the
exercise of the Warrants only. As a result of this transaction,
Pinetree and its joint actors collectively held, as at February 24,
2011, an aggregate of 14,000,000 common shares of Strategic,
including the Common Shares and rights to acquire an additional
7,500,000 common shares of Strategic upon exercise of certain
convertible securities (the "Convertible Securities"), including
the Warrants. Of these totals, Pinetree owns 13,000,000 common
shares, including the Common Shares and all of the Convertible
Securities directly. In the event that the Convertible Securities
are fully exercised, the holdings of Pinetree and its joint actors
represents a total of 21,500,000 common shares of Strategic, or
approximately 26.8% of all issued and outstanding common shares as
at February 24, 2011, calculated on a partially diluted basis
assuming the exercise of the Convertible Securities only. In the
event that the Convertible Securities are fully exercised, the
direct holdings of Pinetree represents a total of 20,500,000 common
shares of Strategic, or approximately 25.6% of all issued and
outstanding common shares as at February 24, 2011, calculated on a
partially diluted basis assuming the exercise of the Convertible
Securities only.
These transactions were made for investment purposes and
Pinetree or its joint actors could increase or decrease their
investment in Strategic 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
Pinetree Capital (TSX:PNP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Pinetree Capital (TSX:PNP)
Historical Stock Chart
From Jul 2023 to Jul 2024