Pinetree Capital Ltd. Acquires Securities of Powertech Uranium Corp.
May 01 2012 - 1:50PM
Marketwired
Pinetree Capital Ltd. (TSX:PNP), announces that on April 30, 2012,
it acquired ownership of 250,000 common shares ("Common Shares") of
Powertech Uranium Corp. ("Powertech") through the facilities of the
TSX Venture Exchange, representing approximately 0.2% of the total
issued and outstanding common shares of Powertech as of April 30,
2012. As a result of this transaction, Pinetree held, as at April
30, 2012, an aggregate of 9,710,000 common shares of Powertech,
including the Common Shares, and rights to acquire an additional
750,000 common shares of Powertech upon exercise of certain
convertible securities (the "Convertible Securities"). In the event
that the Convertible Securities are fully exercised, the holdings
of Pinetree represents a total of 10,460,000 common shares of
Powertech, or approximately 10.1% of all issued and outstanding
common shares as at April 30, 2012, calculated on a partially
diluted basis assuming the exercise of the Convertible Securities
only.
This transaction was made for investment purposes and Pinetree
could increase or decrease its investment in Powertech 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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