Pinetree Buys InPinetree Capital Ltd.
TSX:
PNP
Feb 25, 2011 11:51 ET
Pinetree Capital Ltd. Acquires Securities of Southern Andes Energy Inc.
TORONTO, ONTARIO--(Marketwire - Feb. 25, 2011) -Pinetree Capital Ltd. (TSX:PNP), announces that through a series oftransactions ending on February 24, 2011, it acquired ownership of3,038,984 common shares ("Common Shares") of Southern Andes Energy Inc.("Southern Andes") through the facilities of the TSX Venture Exchange,representing approximately 4.1% of the total issued and outstandingcommon shares of Southern Andes as of February 24, 2011. As a result ofthis transaction, Pinetree held, as at February 24, 2011, an aggregateof 10,541,667 common shares of Southern Andes, including the CommonShares, and rights to acquire an additional 3,458,333 common shares ofSouthern Andes upon exercise of certain convertible securities (the"Convertible Securities"). In the event that the Convertible Securitiesare fully exercised, the holdings of Pinetree represents a total of14,000,000 common shares of Southern Andes, or approximately 18.0% ofall issued and outstanding common shares as at February 24, 2011,calculated on a partially diluted basis assuming the exercise of theConvertible Securities only.
This transaction was made for investment purposes andPinetree could increase or decrease its investment in Southern Andesdepending on market conditions or any other relevant factor.
About Pinetree
Pinetree Capital Ltd. ("Pinetree") was incorporated under thelaws of the Province of Ontario and its shares are publicly-traded onthe Toronto Stock Exchange ("TSX") under the symbol "PNP". Pinetree is adiversified investment and merchant banking firm focused on the smallcap market. Pinetree's investments are primarily in the resourcessector: Uranium and Coal, Oil & Gas, Precious Metals, Base Metalsand Potash, Lithium and Rare Earths. Pinetree's investment approach isto develop a macro view of a sector, build a position consistent withthe view by identifying micro-cap opportunities within that sector, anddevise an exit strategy designed to maximize our relative return inlight of changing fundamentals and opportunities.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com