Pinetree Capital Ltd. Acquires Securities Of Expedition Mining Inc.
March 16, 2011
TORONTO, Canada (March 16, 2011) Pinetree Capital Ltd. (TSX: PNP), announces that on March 14, 2011, it acquired ownership of 1,875,000 common shares (“Common Shares”) and 937,500 common share purchase warrants (the “Warrants”) of Expedition Mining Inc. (“Expedition Mining”). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.50 until September 13, 2012. In the event that the Warrants are fully exercised, these holdings represent approximately 5.1% of the total issued and outstanding common shares of Expedition Mining as of March 14, 2011, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at March 14, 2011, an aggregate of 8,726,500 common shares of Expedition Mining, including the Common Shares, and the Warrants. In the event that the Warrants are fully exercised, the holdings of Pinetree represents a total of 9,664,000 common shares of Expedition Mining, or approximately 17.5% of all issued and outstanding common shares as at March 14, 2011, calculated on a partially diluted basis assuming the exercise of the Warrants only.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Expedition Mining 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 venture capital firm focused on the small cap market. Pinetree’s investments are primarily in the resources sector: Precious Metals, Uranium and Coal, Base Metals, Oil and Gas, 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 and is recognized as a value added partner in the resource industry.
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 250|
|Toronto, Ontario, Canada, M5X 1A9||Toronto, Ontario, Canada, M5X 1A9|
|Website: www.pinetreecapital.com||Phone: 416-941-9600|