Mr. Sheldon Inwentash of Pinetree reports
PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF INTERNATIONAL NORTHAIR MINES LTD.
Pinetree Capital Ltd., through a series of transactions ending on April4, 2011, acquired ownership of 1.5 million common shares ofInternational Northair Mines Ltd. representing approximately 2.1 percent of the total issued and outstanding common shares of InternationalNorthair as of April 4, 2011. As a result of this transaction, Pinetreeand its joint actors collectively held, as at April 4, 2011, a total of6.5 million common shares of International Northair, including thecommon shares and rights to acquire an additional three million commonshares of International Northair upon exercise of certain convertiblesecurities. Of these totals, Pinetree owns 3.5 million common shares,including the common shares and one million of the convertiblesecurities directly. In the event that the convertible securities arefully exercised, the holdings of Pinetree and its joint actors representa total of 9.5 million common shares of International Northair, orapproximately 12.9 per cent of all issued and outstanding common sharesas at April 4, 2011, calculated on a partially diluted basis assumingthe exercise of the convertible securities only. In the event that thePinetree convertible securities are fully exercised, the direct holdingsof Pinetree represent a total of 4.5 million common shares ofInternational Northair, or approximately 6.3 per cent of all issued andoutstanding common shares as at April 4, 2011, calculated on apartially diluted basis assuming the exercise of the Pinetreeconvertible securities only.
SPROTT
The company has closed a$5.3-million private placement comprising 17.1 million units sold at30¢, 7.5 million of which were bought by Sprott Asset Management, aresource fund managed by well-known investor Eric Sprott.
ASSAYS PENDING...GLTA