Pinetree Capital acquires 880,000 more Temex shares

2009-06-02 15:43 ET - News Release

See News Release (C-PNP) Pinetree Capital Ltd

Mr. Larry Goldberg of Pinetree reports

PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF TEMEX RESOURCES CORP.

Pinetree Capital Ltd., on May 27, 2009, acquired ownership of 880,000 common shares of Temex Resources Corp. and 440,000 common share purchase warrants. Each warrant entitles the holder thereof to acquire one additional common share until May 27, 2011, at a price of 32 cents. In the event that the warrants are fully exercised, these holdings represent approximately 1.7 per cent of the total issued and outstanding common shares of Temex as of May 27, 2009, calculated on a partially diluted basis, assuming the exercise of the warrants only. As a result of this transaction, Pinetree holds, as at May 27, 2009, 8,477,000 common shares of Temex, including the common shares and rights exercisable into an additional 1.94 million common shares of Temex (the convertible securities), including the warrants. If Pinetree were to exercise all of the convertible securities, its ownership would represent a total of 10,417,000 common shares of Temex, or approximately 13.2 per cent of such shares outstanding as of May 27, 2009, calculated on a partially diluted basis, assuming the exercise of the convertible securities only.