Pinetree Capital Ltd. Acquires Securities Of Goldeye Explorations Ltd.
March 17, 2010
TORONTO, Canada (March 17, 2010) – Pinetree Capital Ltd. (TSX: PNP), announces that, through a series of transactions ending on March 15, 2010, it acquired ownership of 1,301,000 common shares (“Common Shares”) of Goldeye Explorations Ltd. (“Goldeye”) through the facilities of the TSX Venture Exchange, representing approximately 1.1% of the total issued and outstanding common shares of Goldeye as at March 15, 2010. As a result of this transaction, Pinetree held, as at March 15, 2010, 2009, an aggregate of 11,301,000 common shares of Goldeye, including the Common Shares, and rights to acquire an additional 2,250,000 common shares of Goldeye upon the exercise of convertible securities (the “Convertible Securities”), representing a total of 13,551,000 common shares of Goldeye, or approximately 10.9% of such shares outstanding as of March 15, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities.
These transactions were made for investment purposes and Pinetree could increase or decrease its investments in Goldeye depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the Province of Ontario 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, Precious Metals, Base Metals and Potash, Lithium and Rare Earths. 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
Larry Goldberg, C.A.
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