Pinetree Capital Ltd. Acquires Securities Of U3O8 Corp.
January 14, 2013
TORONTO, Canada (January 14, 2013) Pinetree Capital Ltd. (TSX: PNP), announces that on January 11, 2013, it acquired ownership of 10,000,000 common shares (“Common Shares”) and 5,000,000 common share purchase warrants (the “Warrants”) of U3O8 Corp. (“U3O8”). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.30 until January 11, 2015. In the event that the Warrants are fully exercised, these holdings represent approximately 10.5% of the total issued and outstanding common shares of U3O8 as of January 11, 2013, 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 January 11, 2013, an aggregate of 27,009,057 common shares of U3O8, including the Common Shares, and rights to acquire an additional 6,341,250 common shares of U3O8 upon exercise of certain convertible securities (the “Convertible Securities”), including the Warrants. Of these totals, Pinetree owns 22,274,771 common shares, including the Common Shares, and 5,941,250 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 33,350,307 common shares of U3O8, or approximately 23.0% of all issued and outstanding common shares as at January 11, 2013, 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 28,216,021 common shares of U3O8, or approximately 19.6% of all issued and outstanding common shares as at January 11, 2013, 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 U3O8 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, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal. 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. Pinetree is recognized as a value-added partner in the resource industry.
|Sheldon Inwentash, CPA, CA.||Richard Patricio, LL.B.|
|Chairman & CEO||Vice President, Legal and Corporate Affairs|
|Pinetree Capital Ltd.||Pinetree Capital Ltd.|
|130 King Street West, Suite 250|
|Gerry Feldman, CPA, CA.||Toronto, Ontario, Canada, M5X 1A9|
|CFO & Vice President, Corporate Development||Phone: 416-941-9600|
|Pinetree Capital Ltd.||Email: firstname.lastname@example.org|