Pinetree Capital Ltd. Acquires Securities Of Macarthur Minerals Ltd.
June 18, 2007
TORONTO, Ontario – Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company, announces that on June 15, 2007 it acquired ownership of 1,000,000 common shares (“Common Shares”) of Macarthur Minerals Ltd. (“Macarthur”) and 500,000 common share purchase warrants (the “Warrants”). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $2.00 until December 15, 2008. In the event that the Warrants are fully exercised, these holdings represent approximately 9.2% of the total issued and outstanding common shares of Macarthur as of June 15, 2007, calculated on a partially diluted basis assuming the exercise of the Warrants only. Immediately following the acquisition noted in item 2 above, Pinetree holds 1,950,000 common shares of Macarthur, including the Common Shares and the Warrants directly. In the event that the Warrants are fully exercised, Pinetree’s holdings represent approximately 14.9% of the total issued and outstanding common shares of Macarthur as of June 15, 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 Macarthur 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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