Pinetree Capital Ltd. Acquires Securities of Mega Precious Metals Inc.
March 23 2012 - 4:57PM
Marketwired
Pinetree Capital Ltd. (TSX:PNP), announces that on March 23, 2012,
it acquired ownership of 1,500,000 common shares ("Common Shares")
and 750,000 common share purchase warrants (the "Warrants") of Mega
Precious Metals Inc. ("Mega"). Each Warrant entitles the holder
thereof to acquire one additional common share at a price of $0.85
until March 23, 2014. In the event that the Warrants are fully
exercised, these holdings represent approximately 0.7% of the total
issued and outstanding common shares of Mega as of March 23, 2012,
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 23, 2012, an
aggregate of 20,390,895 common shares of Mega, including the Common
Shares, and rights to acquire an additional 2,500,000 common shares
of Mega upon exercise of certain convertible securities (the
"Convertible Securities"), including the Warrants. Of these totals,
Pinetree owns 14,496,100 common shares, including the Common
Shares, and 1,000,000 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
22,890,895 common shares of Mega, or approximately 20.1% of all
issued and outstanding common shares as at March 23, 2012,
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 15,496,100 common shares of Mega, or
approximately 13.8% of all issued and outstanding common shares as
at March 23, 2012, 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 Mega 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, Base Metals,
Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal.
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. Pinetree is recognized as
a value-added partner in the resource industry.
Contacts: Pinetree Capital Ltd. Sheldon Inwentash Chairman &
CEO 416-941-9600 Pinetree Capital Ltd. Gerry Feldman CFO & Vice
President, Corporate Development 416-941-9600 Investor Relations:
Pinetree Capital Ltd. Richard Patricio Vice President, Legal and
Corporate Affairs 416-941-9600ir@pinetreecapital.com
www.pinetreecapital.com
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