Pinetree Capital Ltd. Acquires Securities Of Integra Gold Corp.
June 30, 2014
TORONTO, Canada (June 30, 2014) Pinetree Capital Ltd. (TSX: PNP), announces that on June 27, 2014, it acquired ownership of 6,250,000 common shares (“Common Shares”) and 6,250,000 common share purchase warrants (the “Warrants”) of Integra Gold Corp. (“Integra”). Each warrant entitles the holder thereof to acquire one additional common share at a price of $0.30 until June 27, 2016. In the event that the Warrants are fully exercised, these holdings represent approximately 6.5% of the total issued and outstanding common shares of Integra as of June 27, 2014, 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 June 27, 2014, an aggregate of 19,452,850 common shares of Integra, including the Common Shares, and rights to acquire an additional 8,600,000 common shares of Integra upon the exercise of convertible securities (the “Convertible Securities”). Of these totals, Pinetree owns 16,250,000 common shares, including the Common Shares, and 6,250,000 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 28,052,850 common shares of Integra or approximately 14.4% of all issued and outstanding common shares as at June 27, 2014, 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 22,500,000 common shares of Integra, or approximately 11.7% of all issued and outstanding common shares as at June 27, 2014, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
These transactions were made for investment purposes and Pinetree and its joint actors could increase or decrease their investment in Integra 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 following sectors: Precious Metals, Uranium and Technology. 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.
|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 2500|
|Gerry Feldman, CPA, CA.||Toronto, Ontario, Canada, M5X 2A2|
|CFO & Vice President, Corporate Development||Phone: 416-941-9600|
|Pinetree Capital Ltd.||Email: email@example.com|
|Phone: 416-643-3884||Website: www.pinetreecapital.com|