Business & Finance
Business and Finance
Business and Finance
Thu, May 28, 2009
Wed, May 27, 2009 Pinetree Capital Ltd.: Pinetree Capital Ltd. Acquires Securities of RJK Explorations Ltd.
TORONTO, ONTARIO--(Marketwire - May 27, 2009) - Pinetree Capital Ltd. (TSX:PNP), announces that on May 14, 2009, it acquired ownership of 2,000,000 Class A subordinate voting common shares ("Common Shares") and 2,000,000 Class A subordinate voting common share purchase warrants (the "Warrants") of RJK Explorations Ltd. ("RJK"). Each Warrant entitles the holder to acquire one additional Class A subordinate voting common share at a price of $0.10 until November 14, 2010. In the event that the Warrants are fully exercised, these holdings represent approximately 7.8% per cent of the total issued and outstanding Class A subordinate voting common shares of RJK as of May 14, 2009, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at May 14, 2009, an aggregate of 3,790,000 common shares of RJK, including the Common Shares, and the Warrants. In the event that the Warrants are fully exercised, the holdings of Pinetree represent a total of 5,790,000 Class A subordinate voting common shares of RJK, or approximately 11.3% of all issued and outstanding Class A subordinate voting common shares as at May 14, 2009, calculated on a partially diluted basis assuming the exercise of the Warrants only.
These transactions were made for investment purposes and Pinetree could increase or decrease its investments in RJK 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 merchant banking firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Uranium, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals. 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.
