Pinetree Capital Ltd. Acquires Common Shares Of Redstar Gold Corp.
March 27, 2008
TORONTO, Canada (March 27, 2008) – Pinetree Capital Ltd. (TSX: PNP), announces that, through a series of transactions ending on March 27, 2008, it acquired ownership of 1,291,500 common shares (“Common Shares”) of Redstar Gold Corp. (“Redstar”) through the facilities of the TSX Venture Exchange representing approximately 2.7% of the total issued and outstanding common shares of Redstar as of March 27, 2008. As a result of this transaction, Pinetree and its joint actors collectively held, as at March 27, 2008, an aggregate of 7,729,000 common shares of Redstar and rights to acquire an additional 4,156,250 common shares of Redstar upon the exercise of convertible securities (collectively, the “Convertible Securities”). Of these totals, Pinetree owns an aggregate of 6,291,500 common shares of Redstar and convertible securities exercisable into an additional 2,500,000 common shares of Redstar (the “Pinetree Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 11,885,250 common shares of Redstar, or approximately 22.7% of all issued and outstanding common shares as at March 27, 2008, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that only the Pinetree Convertible Securities held directly by Pinetree are fully exercised, Pinetree’s direct holdings would represent 8,791,500 common shares approximately 17.4% of all issued and outstanding common shares of Redstar as of March 27, 2008, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in Redstar depending on market conditions or any other relevant factor.
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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