PNP Acquires Shares of Pacific ComoxPinetree Capital Ltd. Acquires Common Shares of Pacific Comox Resources Ltd.
TORONTO, ONTARIO, Apr 12 (MARKET WIRE) --
Pinetree Capital Ltd. (TSX: PNP), announces that through a series of transactions ending on April 11, 2007, it acquired ownership of 2,000,000 common shares ("Common Shares") of Pacific Comox Resources Ltd. ("Pacific") through the facilities of the TSX Venture Exchange representing approximately 1.4% of the total issued and outstanding common shares of Pacific as of April 11, 2007. As a result of this transaction, Pinetree holds an aggregate of 12,029,428 common shares and rights to acquire an additional 3,571,428 common shares upon exercise of certain convertible securities (the "Convertible Securities"), which represents approximately 10.9% of the total issued and outstanding common shares of Pacific as of April 11, 2007, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.