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Pinetree acquires 470,000 Mega Precious Metals shares
2014-11-13 11:15 ET - News Release
See News Release (C-PNP) Pinetree Capital Ltd
Mr. Sheldon Inwentash of Pinetree reports
PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF MEGA PRECIOUS METALS INC.
Pinetree Capital Ltd., through a series of transactions ending on Nov. 12, 2014, acquired ownership of 470,000 common shares of Mega Precious Metals Inc. through the facilities of the TSX Venture Exchange, representing approximately 0.3 per cent of the total issued and outstanding common shares of Mega as of Nov. 12, 2014. As a result of this transaction, Pinetree and its joint actors collectively held, as at Nov. 12, 2014, an aggregate of 35,794,795 common shares of Mega, including the common shares, and rights to acquire an additional 4.25 million common shares of Mega upon exercise of certain convertible securities. Of these totals, Pinetree owns 23.25 million common shares, including the common shares, and two million of the convertible securities directly. In the event that the convertible securities are fully exercised, the holdings of Pinetree and its joint actors represent a total of 40,044,795 common shares of Mega, or approximately 22.6 per cent of all issued and outstanding common shares as at Nov. 12, 2014, calculated on a partially diluted basis assuming the exercise of the convertible securities only. In the event that the Pinetree convertible securities are fully exercised, the direct holdings of Pinetree represents a total of 25.25 million common shares of Mega, or approximately 14.4 per cent of all issued and outstanding common shares as at Nov. 12, 2014, calculated on a partially diluted basis assuming the exercise of the convertible securities only.
These transactions were made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in Mega depending on market conditions or any other relevant factor.