Pinetree Capital Ltd. Acquires Securities Of Pacific North West Capital Corp.
March 17, 2011
TORONTO, Canada (March 17, 2011) Pinetree Capital Ltd. (TSX: PNP), announces that on March 16, 2011, it acquired ownership of 1,000,000 common shares (“Common Shares”) and 500,000 common share purchase warrants (the “Warrants”) of Pacific North West Capital Corp. (“Pacific North West”). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.35 until March 16, 2012. In the event that the Warrants are fully exercised, these holdings represent approximately 1.9% of the total issued and outstanding common shares of Pacific North West as of March 16, 2011, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree and its joint actors collectively held, as at March 16, 2011, an aggregate of 8,930,000 common shares of Pacific North West, including the Common Shares and rights to acquire an additional 1,000,000 common shares of Pacific North West upon exercise of certain convertible securities (the “Convertible Securities”), including the Warrants. Of these totals, Pinetree owns 7,430,000 common shares, including the Common Shares and the 750,000 of the Convertible Securities, including the Warrants (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 9,930,000 common shares of Pacific North West, or approximately 12.6% of all issued and outstanding common shares as at March 16, 2011, 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 8,180,000 common shares of Pacific North West, or approximately 10.4% of all issued and outstanding common shares as at March 16, 2011, 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 Pacific North West 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|