Pinetree Capital Ltd. Acquires Securities of REBgold Corporation
March 21 2011 - 3:12PM
Marketwired
Pinetree Capital Ltd. (TSX: PNP), announces that in a private
transaction which closed March 16, 2011, it acquired ownership of
3,250,000 warrants of REBgold Corporation ("REBgold") (the "April 2
Warrants" exercisable at a price of $0.10 and expiring April 2,
2011) and 3,750,000 warrants of REBgold (the "April 14 Warrants"
exercisable at a price of $0.10 and expiring April 14, 2011). In
the event that the April 2 Warrants and April 14 Warrants are fully
exercised, these holdings would represent approximately 4.7% of the
total issued and outstanding common shares of REBgold as of March
16, 2011. As a result of this transaction, Pinetree and its joint
actors collectively held, as at March 16, 2011, an aggregate of
14,520,500 common shares of REBgold and rights to acquire an
additional 12,850,500 common shares of REBgold upon exercise of
certain convertible securities (the "Convertible Securities"),
including the April 2 Warrants and the April 14 Warrants. Of these
totals, Pinetree owns 11,000,500 common shares and 11,850,000 of
the Convertible Securities (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 27,370,500 common shares of REBgold, or approximately
17.9% 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 22,850,500 common shares of REBgold,
or approximately 15.0% 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.
This transaction was made for investment purposes and Pinetree
or its joint actors could increase or decrease their investment in
REBgold 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: 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 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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