Pinetree Capital Ltd. Acquires Securities of Resinco Capital Partners Inc.
TORONTO, Canada (March 22, 2010) –
Ltd. (TSX: PNP), announces that through a series of transactions ending on March 19, 2010, Pinetree acquired ownership of 213,500 common shares (“Common Shares”) of Resinco Capital Partners Inc. (“Resinco”) through the facilities of the Toronto Stock Exchange representing approximately 0.2% of the total issued and outstanding common shares of Resinco as of March 18, 2010. As a result of this transaction, Pinetree held, as at March 19, 2010, an aggregate of 9,106,500 common shares of Resinco, including the Common Shares and rights to acquire an additional 6,250,000 common shares of Resinco upon the exercise of convertible securities (collectively, the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represent a total of 15,356,500 common shares of Resinco, or approximately 12.1% of all issued and outstanding common shares as at March 19, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only
These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Resinco depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the
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 resources sector: Uranium, Oil & Gas, Precious Metals, Base Metals and Potash, Lithium and Rare Earths. 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.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Web Site: www.pinetreecapital.com