Pinetree Capital Ltd. Acquires Securities Of Lago Dourado Minerals Ltd.
November 18, 2010
TORONTO, Canada (November 18, 2010) Pinetree Capital Ltd. (TSX: PNP), announces that on November 16, 2010, Pinetree acquired 350,000 common shares (the “Common Shares”) of Lago Dourado Minerals Ltd. (“Lago Dourado”) pursuant to its initial public offering, representing approximately 0.6% of the total issued and outstanding common shares of Lago Dourado as of November 16, 2010. As a result of this transaction, Pinetree and its joint actors collectively held, as at November 16, 2010, an aggregate of 6,900,000 common shares of Lago Dourado, including the Common Shares and rights to acquire an additional 2,250,000 common shares of Lago Dourado upon exercise of certain convertible securities (the “Convertible Securities. Of these totals, Pinetree owns 2,350,000 common shares, including the Common Shares and 2,000,000 of the Convertible Securities, (the “Pinetree Convertible Securities”) directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 9,150,000 common shares of Lago Dourado, or approximately 15.0% of all issued and outstanding common shares as at November 16, 2010, 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, the direct holdings of Pinetree represents a total of 4,350,000 common shares of Lago Dourado, or approximately 7.2% of all issued and outstanding common shares as at November 16, 2010, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
These transactions were made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in Lago Dourado 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 and Coal, 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.
|Sheldon Inwentash||Richard Patricio|
|Chairman & CEO||Vice President, Legal and Corporate Affairs|
|Pinetree Capital Ltd.||Pinetree Capital Ltd.|
|130 King Street West, Suite 2500||130 King Street West, Suite 2500|
|Toronto, Ontario, Canada, M5X 1A9||Toronto, Ontario, Canada, M5X 1A9|
|Website: www.pinetreecapital.com||Phone: 416-941-9600|