NewsNot the news I expected but good news. Pinetree is an good investment company with a nice portfolio, just high promising stocks...
TORONTO, CANADA--(Marketwire - April 8, 2011) - Pinetree CapitalLtd. (TSX: PNP), announces that through a series of transactionsending on April 7, 2011, it acquired ownership of 250,000 commonshares ("Common Shares") of Hy Lake Gold Inc. ("Hy Lake Gold")through the facilities of the TSX Venture Exchange, representingapproximately 0.6% of the total issued and outstanding commonshares of Hy Lake Gold as of April 7, 2011. As a result of thistransaction, Pinetree held, as at April 7, 2011, an aggregate of2,250,000 common shares of Hy Lake Gold, including the CommonShares, and rights to acquire an additional 2,000,000 common sharesof Hy Lake Gold upon exercise of certain convertible securities(the "Convertible Securities"). In the event that the ConvertibleSecurities are fully exercised, the holdings of Pinetree representsa total of 4,450,000 common shares of Hy Lake Gold, orapproximately 10.1% of all issued and outstanding common shares asat April 7, 2011, calculated on a partially diluted basis assumingthe exercise of the Convertible Securities only.
This transaction was made for investment purposes and Pinetreecould increase or decrease its investment in Hy Lake Gold dependingon market conditions or any other relevant factor.