James Bay Lowlands & Bob Lake Saskatchewan
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Message: Pinetree Capital Ltd. Acquires Securities of MacDonald Mines Exploration Ltd.
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TORONTO, ONTARIO -- 03/01/10 -- Pinetree Capital Ltd. (TSX: PNP), announces that, through a series of transactions ending on February 22, 2010, it acquired ownership of 1,000,000 common shares ("Common Shares") of MacDonald Mines Exploration Ltd. ("MacDonald") through the facilities of the TSX Venture Exchange representing approximately 0.6% of the total issued and outstanding common shares of MacDonald as of February 22, 2010. As a result of this transaction, Pinetree and its joint actors held, as at February 22, 2010, an aggregate of 25,306,000 common shares of MacDonald and convertible securities exercisable into 4,700,000 common shares of MacDonald (the "Convertible Securities"). Of these totals, Pinetree directly holds 16,000,000 common shares and convertible securities exercisable into 3,075,000 common shares of MacDonald (the "Pinetree Convertible Securities"). If Pinetree and its joint actors were to exercise all of the Convertible Securities, their combined ownership would represent a total of 30,006,000 common shares of MacDonald, or approximately 18.5% of such shares outstanding as of February 22, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. If Pinetree were to exercise all of the Pinetree Convertible Securities, its direct ownership would represent a total of 19,075,000 common shares of MacDonald, or approximately 11.9% of such shares outstanding as of February 22, 2010, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
Read more: http://www.earthtimes.org/articles/show/pinetree-capital-ltd-acquires-securities-of-macdonald-mines-exploration-ltd,1184164.shtml#ixzz0gwS5iZR3
These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in MacDonald depending on market conditions or any other relevant factor.
Read more: http://www.earthtimes.org/articles/show/pinetree-capital-ltd-acquires-securities-of-macdonald-mines-exploration-ltd,1184164.shtml#ixzz0gwS5iZR3
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