Pinetree buys 1.5 millionwarrants at .25
PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF STRAIT GOLD CORPORATION
On Dec. 16, 2010, Pinetree Capital Ltd. acquired ownership of 1.5 million common shares and 1.5 million common share purchase warrants of Strait Gold Corp. Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.25 until December 15, 2011. In the event that the Warrants are fully exercised, these holdings represent approximately 5.8% of the total issued and outstanding common shares of Strait Gold as of December 16, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at December 16, 2010, an aggregate of 4,631,666 common shares of Strait Gold, including the Common Shares, and rights to acquire an additional 2,833,333 common shares of Strait Gold upon exercise of certain convertible securities, including the Warrants (the "Convertible Securities"). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 7,464,999 common shares of Strait Gold, or approximately 14.1% of all issued and outstanding common shares as at December 16, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Strait Gold depending on market conditions or any other relevant factor.