Pinetree Capital Ltd. announces that on March 14, 2007, it acquired ownership of 4,062,000 common shares (the "Common Shares") of Slam Exploration Ltd. ("Slam") and 4,062,000 share purchase warrants (each, a "Warrant") (each Warrant entitling the holder thereof to acquire one additional common share at an exercise price of $0.35 until March 14, 2009). In the event that the Warrants are fully exercised, these holdings represent approximately 11.6% of the total issued and outstanding common shares of Slam as of March 14, 2007, calculated on a partially diluted basis assuming the exercise of Warrants only. As a result of this transaction, Pinetree holds an aggregate of 5,426,000 common shares and convertible securities exercisable into an additional 5,426,000 common shares of Slam, including the 4,062,000 Warrants, which represents approximately 15.2% of the total issued and outstanding common shares of Slam as of March 14, 2007, calculated on a partially diluted basis assuming the exercise of the 5,426,000 convertible securities only.
These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Slam depending on market conditions or any other relevant factor.
About Pinetree
Pinetree Capital Ltd. ("Pinetree" or the "Company"), which is publicly traded on the Toronto Stock Exchange ("TSX") under the symbol "PNP", is a diversified investment, financial advisory and merchant banking firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Oil & Gas, Uranium, Precious Metals and Base Metals.
Pinetree's investment approach is to build a macro position in a sector, find the micro-cap opportunities in that sector and work with those companies to build them to commercial production and create an exit.
This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Pinetree's results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Pinetree disclaims any intent or obligation to update these forward-looking statements.
source news : marketwire.com
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