Pinetree Capital Ltd T.PNP.DB

Pinetree Capital Ltd. Acquires Securities of Burns

[HiFinance]

Just announced via TD:

December 21, 2009 12:02pm ET

Pinetree Capital Ltd. (TSX:PNP), announces that on December 15, 2009, it acquired ownership of 1,000,000 common shares ("Common Shares") and 1,000,000 common share purchase warrants (the "Warrants") of Burnstone Ventures Inc. ("Burnstone"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of
.10 until December 15, 2011. In the event that the Warrants are fully exercised, these holdings represent approximately 15.8% of the total issued and outstanding common shares of Burnstone as of December 15, 2009, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at December 15, 2009, an aggregate of 1,350,000 common shares of Burnstone, including the Common Shares and the Warrants.

Burnstown last traded 15K shares on Dec 18, 2009 closing at .07 cents per share. Although not a lot of details on Burnstown are available, although this little tidbit about Canterra, Shore Gold and Encana having some dealings (ownership of Burstown) could lead to all sorts of discussion...

Canterra and Shore Gold Buy Burnstone's Interest in Buffalo Hills Project

VANCOUVER, BRITISH COLUMBIA, Dec 10, 2009 (Marketwire via COMTEX) -- (Marketwire)

Canterra Minerals Corporation (TSX VENTURE:CTM) (formerly Diamondex Resources Ltd.) ("Canterra") and Shore Gold Inc. (TSX:SGF) ("Shore") are pleased to announce that they have purchased, each as to 50%, the joint venture interest of Burnstone Ventures Inc. (formerly Pure Diamonds Exploration Inc.) ("Burnstone") in the Buffalo Hills project in north central Alberta under a purchase and sale agreement between Canterra, Shore and Burnstone. As consideration for Burnstone's interest, Canterra and Shore each paid $75,000 in cash to Burnstone, and Burnstone was granted a 1% royalty interest in the Buffalo Hills project. The Buffalo Hills project is presently a joint venture with Canterra, Shore, EnCana Corporation ("EnCana") and Burnstone. As a result of the sale, Canterra and Shore each hold a 28.5% interest in the Buffalo Hills project, and EnCana holds the remaining 43% interest.