The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Pinetree Capital Ltd. Acquires Securities of Santa Fe Metals Corporation

Friday, April 15, 2011

Pinetree Capital Ltd. Acquires Securities of Santa Fe Metals Corporation13:54 EDT Friday, April 15, 2011TORONTO, ONTARIO--(Marketwire - April 15, 2011) -Pinetree Capital Ltd. (TSX:PNP), announces that on April 14, 2011, it acquired ownership of 4,000,000 common shares ("Common Shares") and 2,000,000 common share purchase warrants (the "Warrants") of Santa Fe Metals Corporation ("Santa Fe"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.11 until April 14, 2013. In the event that the Warrants are fully exercised, these holdings represent approximately 11.8% of the total issued and outstanding common shares of Santa Fe as of April 14, 2011, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at April 14, 2011, an aggregate of 8,500,000 common shares of Santa Fe, including the Common Shares, and rights to acquire an additional 2,750,000 common shares of Santa Fe upon exercise of certain convertible securities, including the Warrants (the "Convertible Securities"). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 11,250,000 common shares of Santa Fe, or approximately 21.8% of all issued and outstanding common shares as at April 14, 2011, 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 Santa Fe 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 FURTHER INFORMATION PLEASE CONTACT: Sheldon InwentashPinetree Capital Ltd.Chairman & CEO416-941-9600ORRichard PatricioInvestor Relations: Pinetree Capital Ltd.Vice President, Legal and Corporate Affairs416-941-9600ir@pinetreecapital.comwww.pinetreecapital.com