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 Alix Resources Corp.

Thursday, April 28, 2011

Pinetree Capital Ltd. Acquires Securities of Alix Resources Corp.10:06 EDT Thursday, April 28, 2011TORONTO, CANADA--(Marketwire - April 28, 2011) -Pinetree Capital Ltd. (TSX:PNP), announces that on April 27, 2011, it acquired ownership of 2,500,000 common shares ("Common Shares") and 2,500,000 common share purchase warrants (the "Warrants") of Alix Resources Corp. ("Alix Resources"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.30 until April 27, 2012 and at a price of $0.35 until April 27, 2013. In the event that the Warrants are fully exercised, these holdings represent approximately 18.5% of the total issued and outstanding common shares of Alix Resources as of April 27, 2011, calculated on a partially diluted basis assuming the exercise of the Warrants only. This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Alix Resources depending on market conditions or any other relevant factor.About PinetreePinetree 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 more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.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