Pinetree Capital Ltd. Acquires Securities Of
Longford Energy Inc.
April 3, 2009
TORONTO, Ontario –
Ltd. (TSX: PNP), announces that, through a series of transactions ending on April 2, 2009, it acquired ownership of 250,000 common shares (“Common Shares”) of Longford Energy Inc. (“Longford”) through the facilities of the TSX Venture Exchange representing approximately 0.6% of the total issued and outstanding common shares of Longford as of April 2, 2009. As a result of this transaction, Pinetree and its joint actors collectively held, as at April 2, 2009, an aggregate of 4,294,759 common shares of Longford, including the Common Shares, and rights to acquire an additional 1,925,926 common shares of Longford upon the exercise of convertible securities (collectively, the “Convertible Securities”). Of these totals, Pinetree owns 3,019,759 common shares of Longford, including the Common Shares, and 1,675,926 of the Convertible Securities (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 6,220,685 common shares of Longford, or approximately 14.3% of all issued and outstanding common shares as at April 2, 2009, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Pinetree Convertible Securities are fully exercised, Pinetree’s direct holdings would represent 4,695,685 common shares or approximately 10.8% of all issued and outstanding common shares of Longford as of April 2, 2009, 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 Longford depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the
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.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Web Site: www.pinetreecapital.com