Pinetree Capital Ltd. Acquires Common Shares Of
Global Minerals Ltd.
May 1, 2007
TORONTO, Ontario –
Pinetree Capital Ltd. (TSX: PNP), announces that, though a series of transactions ending on April 30, 2007, it acquired ownership of 200,000 common shares (“Common Shares”) of Global Minerals Ltd. (“Global”) through the facilities of the TSX Venture Exchange representing approximately 0.2% of the total issued and outstanding common shares of Global as of April 30, 2007. As a result of the transaction, Pinetree and its joint actors own an aggregate of 6,066,000 common shares of Global and rights to acquire an additional 2,500,000 common shares of Global upon the exercise of convertible securities (collectively, the “Convertible Securities”). Of these totals, Pinetree owns 5,896,000 common shares and 1,500,000 common share purchase warrants. In the event that the Convertible Securities are fully exercised, the holdings of the Pinetree and joint actors represent a total of 8,566,000 common shares of Global, or approximately 10.0% of all issued and outstanding common shares as at April 30, 2007, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that only the 1,500,000 warrants owned directly by Pinetree are fully exercised, the direct holdings of Pinetree represent approximately 8.8% of all issued and outstanding common shares of Global as of April 30, 2007, calculated on a partially diluted basis assuming the exercise of the 1,500,000 warrants only.
These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in Global depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree" or the "Company"), which is publicly traded on the Toronto Stock Exchange (“TSX”) under the symbol “PNP”, is a diversified investment, financial advisory and merchant banking firm focused on the small cap market. Pinetree’s investments are primarily in the resources sector: Oil & Gas, Uranium, Precious Metals and Base Metals.
Pinetree’s investment approach is to build a macro position in a sector, find the micro-cap opportunities in that sector and work with those companies to build them to commercial production and create an exit.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Pinetree’s results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Pinetree disclaims any intent or obligation to update these forward-looking statements.
Investor Relations Contact for Pinetree Capital Ltd.:
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.
130 King Street West, Suite 2810
Canada, M5X 1A9
Email: email@example.com Web Site: www.pinetreecapital.com