Pinetree Capital Ltd. Acquires Securities Of Valgold Resources Ltd.
June 1, 2007
TORONTO, Ontario (June 1, 2007) – Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company, announces that on May 31, 2007 it acquired ownership of 5,000,000 common shares (“Common Shares”) of ValGold Resources Ltd. (“ValGold”) and 2,500,000 common share purchase warrants (the “Warrants”). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.50 until May 31, 2008 and at a price of $0.60 until May 31, 2009. In the event that the Warrants are fully exercised, these holdings represent approximately 14.6% off the total issued and outstanding common shares of ValGold as of May 31, 2007, 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 investment in ValGold 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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