Pinetree Capital Ltd. Acquires Securities of Expedition Mining Inc.
March 16 2011 - 9:41AM
Marketwired
Pinetree Capital Ltd. (TSX: PNP), announces that on March 14, 2011,
it acquired ownership of 1,875,000 common shares ("Common Shares")
and 937,500common share purchase warrants (the "Warrants") of
Expedition Mining Inc. ("Expedition Mining"). Each Warrant entitles
the holder thereof to acquire one additional common share at a
price of $0.50 until September 13, 2012. In the event that the
Warrants are fully exercised, these holdings represent
approximately 5.1% of the total issued and outstanding common
shares of Expedition Mining as of March 14, 2011, calculated on a
partially diluted basis assuming the exercise of the Warrants only.
As a result of this transaction, Pinetree held, as at March 14,
2011, an aggregate of 8,726,500common shares of Expedition Mining,
including the Common Shares, and the Warrants. In the event that
the Warrants are fully exercised, the holdings of Pinetree
represents a total of 9,664,000 common shares of Expedition Mining,
or approximately 17.5% of all issued and outstanding common shares
as at March 14, 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 Expedition Mining
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 venture capital firm
focused on the small cap market. Pinetree's investments are
primarily in the resources sector: Precious Metals, Uranium and
Coal, Base Metals, Oil and Gas, 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 and is recognized as a
value added partner in the resource industry.
For more details about Pinetree and its investments, please
visit our website at www.pinetreecapital.com.
Contacts: Pinetree Capital Ltd. Sheldon Inwentash Chairman &
CEO 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 Jul 2024 to Aug 2024
Pinetree Capital (TSX:PNP)
Historical Stock Chart
From Aug 2023 to Aug 2024