TORONTO, Canada (January 17, 2012) Pinetree Capital Ltd. (TSX: PNP), announces that on January 16, 2012, it acquired ownership of 750,000 common shares ("Common Shares") of Uranium North Resources Corp. ("Uranium North") through the facilities of the TSX Venture Exchange representing approximately 0.9% of the total issued and outstanding common shares of Uranium North as of January 16, 2012. As a result of this transaction, Pinetree held, as at January 16, 2012, an aggregate of 8,500,000 common shares of Uranium North, including the Common Shares, and rights to acquire an additional 750,000 common shares of Uranium North 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 9,250,000 common shares of Uranium North, or approximately 10.7% of all issued and outstanding common shares as at January 16, 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 Uranium North 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.
Investor Relations: | |
Sheldon Inwentash | Richard Patricio |
Chairman & CEO | Vice President, Legal and Corporate Affairs |
Pinetree Capital Ltd. | Pinetree Capital Ltd. |
130 King Street West, Suite 250 | |
Gerry Feldman | Toronto, Ontario, Canada, M5X 1A9 |
CFO & Vice President, Corporate Development | Phone: 416-941-9600 |
Pinetree Capital Ltd. | Email: ir@pinetreecapital.com |
distribué par | Ce noodl a été diffusé par Pinetree Capital Ltd. et initialement mise en ligne sur le site http://www.pinetreecapital.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-17 21:55:56 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |