Pinetree Capital Ltd. Acquires Securities Of Canadian Arrow Mines Limited
October 20, 2010
TORONTO, Canada (October 20, 2010) Pinetree Capital Ltd. (TSX: PNP), announces that on October 19, 2010, it acquired ownership of 3,571,430 common shares (“Common Shares”) and 3,571,430 common share purchase warrants (the “Warrants”) of Canadian Arrow Mines Limited (“Canadian Arrow”). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.10 until October 19, 2012. In the event that the Warrants are fully exercised, these holdings represent approximately 5.6% of the total issued and outstanding common shares of Canadian Arrow as of October 19, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at October 19, 2010, an aggregate of 13,071,430 common shares of Canadian Arrow, including the Common Shares, and rights to acquire an additional 6,071,430 common shares of Canadian Arrow upon exercise of certain convertible securities, including the Warrants (the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 19,142,860 common shares of Canadian Arrow, or approximately 14.6% of all issued and outstanding common shares as at October 19, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Canadian Arrow depending on market conditions or any other relevant factor.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.
|©Copyright 2012 Pinetree Capital Ltd.|