Pinetree Capital Ltd. Acquires Securities Of West High Yield (W.H.Y.) Resources Ltd.
May 10, 2007
TORONTO, Ontario (May 10, 2007) – Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company, announces that on May 9, 2007 it acquired ownership of 3,000,000 common shares (“Common Shares”) of West High Yield (W.H.Y.) Resources Ltd. (“West High”), and 1,500,000 share purchase warrants (each, a “Warrant”) (each Warrant entitling the holder thereof to acquire one additional common share at an exercise price of $1.00 until May 9, 2009). In the event that the Warrants are fully exercised, these holdings represent approximately 11.1% of the total issued and outstanding common shares of West High as of May 9, 2007, calculated on a partially diluted basis assuming the exercise of Warrants only.
These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in West High depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree" or the "Company") was incorporated under the laws of the
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Pinetree’s results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Pinetree disclaims any intent or obligation to update these forward-looking statements.
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