Pinetree Capital Ltd. Acquires Securities Of Keek Inc.
November 6, 2014
TORONTO, Canada (November 6, 2014) Pinetree Capital Ltd. (TSX: PNP), announces that on November 6, 2014, it acquired 3,000, $1,000 secured promissory notes (the “Notes”) and 3,000,000 common share purchase warrants (the “Warrants”) of Keek Inc. (“Keek”). Each warrant entitles the holder thereof to acquire one additional common share at a price of $0.10 until November 5, 2017. In the event that the Warrants are fully exercised, these Warrants represent approximately 0.9% of the total issued and outstanding common shares of Keek as of November 6, 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 November 6, 2014, an aggregate of 57,364,527 common shares of Keek and rights to acquire an additional 4,500,000 common shares of Keek upon the exercise of convertible securities (the “Convertible Securities”), including the Warrants. Of these totals, Pinetree owns 42,827,027 common shares and the Warrants directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 61,864,527 common shares of Keek or approximately 17.8% of all issued and outstanding common shares as at November 6, 2014, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Warrants are fully exercised, the direct holdings of Pinetree represents a total of 45,827,027 common shares of Keek, or approximately 13.2% of all issued and outstanding common shares as at November 6, 2014, calculated on a partially diluted basis assuming the exercise of the Warrants only.
These transactions were made for investment purposes and Pinetree and its joint actors could increase or decrease their investment in Keek 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: firstname.lastname@example.org|
|Phone: 416-643-3884||Website: www.pinetreecapital.com|