Press release from Marketwire
Pinetree Capital Ltd. Acquires Securities of Laurentian Goldfields Ltd.
Thursday, January 10, 2013
Pinetree Capital Ltd. Acquires Securities of Laurentian Goldfields Ltd.14:30 EST Thursday, January 10, 2013TORONTO, CANADA--(Marketwire - Jan. 10, 2013) -Pinetree Capital Ltd. (TSX:PNP), announces that on January 9, 2013, it acquired ownership of 500,000 common shares ("Common Shares") and 500,000 common share purchase warrants (the "Warrants") of Laurentian Goldfields Ltd. ("Laurentian"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.30 until January 9, 2015. In the event that the Warrants are fully exercised, these holdings represent approximately 1.1% of the total issued and outstanding common shares of Laurentian as of January 9, 2013, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at January 9, 2013, an aggregate of 904,700 common shares of Laurentian, including the Common Shares, and rights to acquire an additional 550,000 common shares of Laurentian 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 1,454,700 common shares of Laurentian, or approximately 15.5% of all issued and outstanding common shares as at January 9, 2013, 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 Laurentian 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, 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. FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Pinetree Capital Ltd.Sheldon Inwentash, CA.Chairman & CEO416-941-9600Pinetree Capital Ltd.Investor Relations:Richard Patricio, LL.B.Vice President, Legal and Corporate Affairs416-941-9600Pinetree Capital Ltd.Gerry Feldman, CA.CFO & Vice President, Corporate Development416-941-9600Pinetree Capital Ltd.130 King Street West, Suite 250Toronto, Ontario, Canada, M5X 1A9416email@example.com