Pinetree Capital Ltd. Acquires Securities of MGold Resources Inc.
February 28 2011 - 12:28PM
Marketwired
Pinetree Capital Ltd. (TSX: PNP), announces that on February 25,
2011, it acquired ownership of 1,500,000 common shares ("Common
Shares") and 1,500,000 common share purchase warrants (the
"Warrants") of MGold Resources Inc. ("MGold"). Each Warrant
entitles the holder thereof to acquire one additional common share
at a price of $0.17 until December 21, 2012. In the event that the
Warrants are fully exercised, these holdings represent
approximately 21.7% of the total issued and outstanding common
shares of MGold as of February 25, 2011, calculated on a partially
diluted basis assuming the exercise of the Warrants only. As a
result of this transaction, Pinetree held, as at February 25, 2011,
an aggregate of 1,624,625 common shares of MGold, including the
Common Shares, and the Warrants. In the event that the Warrants are
fully exercised, Pinetree would hold an aggregate of 3,124,625
common shares or approximately 22.6% of all issued and outstanding
common shares as at February 25, 2011, calculated on a partially
diluted basis assuming the exercise of the Warrants only.
This transaction was made for investment purposes and Pinetree
could increase or decrease its investment in MGold 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 May 2024 to Jun 2024
Pinetree Capital (TSX:PNP)
Historical Stock Chart
From Jun 2023 to Jun 2024