Pinetree Capital Ltd. Acquires Securities of Pacific North West Capital Corp.
March 17 2011 - 9:00AM
Marketwired
Pinetree Capital Ltd. (TSX: PNP), announces that on March 16, 2011,
it acquired ownership of 1,000,000 common shares ("Common Shares")
and 500,000 common share purchase warrants (the "Warrants") of
Pacific North West Capital Corp. ("Pacific North West"). Each
Warrant entitles the holder thereof to acquire one additional
common share at a price of $0.35 until March 16, 2012. In the event
that the Warrants are fully exercised, these holdings represent
approximately 1.9% of the total issued and outstanding common
shares of Pacific North West as of March 16, 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 March 16, 2011, an aggregate of 8,930,000
common shares of Pacific North West, including the Common Shares
and rights to acquire an additional 1,000,000 common shares of
Pacific North West upon exercise of certain convertible securities
(the "Convertible Securities"), including the Warrants. Of these
totals, Pinetree owns 7,430,000 common shares, including the Common
Shares and the 750,000 of the Convertible Securities, including the
Warrants (the "Pinetree 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
9,930,000 common shares of Pacific North West, or approximately
12.6% of all issued and outstanding common shares as at March 16,
2011, calculated on a partially diluted basis assuming the exercise
of the Convertible Securities only. In the event that the Pinetree
Convertible Securities are fully exercised, the direct holdings of
Pinetree represents a total of 8,180,000 common shares of Pacific
North West, or approximately 10.4% of all issued and outstanding
common shares as at March 16, 2011, calculated on a partially
diluted basis assuming the exercise of the Pinetree Convertible
Securities only.
These transactions were made for investment purposes and
Pinetree or its joint actors could increase or decrease their
investment in Pacific North West 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 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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