Pinetree Capital Ltd. Acquires Securities Of
Latin American Minerals Inc.
February 23, 2009
TORONTO, Ontario –
Pinetree Capital Ltd. (TSX: PNP), announces that, through a series of transactions ending on February 17, 2009, it acquired ownership of 434,500 common shares (“Common Shares”) of Latin American Minerals Inc. (“Latin American”) through the facilities of the TSX Venture Exchange representing approximately 0.7% of the total issued and outstanding common shares of Latin American as of February 23, 2009. As a result of this transaction, Pinetree and its joint actors collectively held, as at February 23, 2009, an aggregate of 8,000,000 common shares of Latin American, including the Common Shares, and rights to acquire an additional 750,837 common shares of Latin American upon the exercise of convertible securities (collectively, the “Convertible Securities”). Of these totals, Pinetree the 8,000,000 common shares of Latin American and 500,000 of the Convertible Securities (the “Pinetree Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 8,750,837 common shares of Latin American, or approximately 13.9% of all issued and outstanding common shares as at February 23, 2009, 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, Pinetree’s direct holdings would represent 8,500,000 common shares approximately 13.5% of all issued and outstanding common shares of Latin American as of February 23, 2009, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in Latin American depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the
Ontario and its shares are publicly-traded on the Toronto Stock Exchange (“TSX”) under the symbol “PNP”. Pinetree is a diversified investment and merchant banking firm focused on the small cap market. Pinetree’s investments are primarily in the resources sector: Uranium, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals. Pinetree’s investment approach is to develop a macro view of a sector, build a position consistent with the view by identifying micro-cap opportunities within that sector, and devise an exit strategy designed to maximize our relative return in light of changing fundamentals and opportunities.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Web Site: www.pinetreecapital.com