Pinetree Capital Ltd. Acquires Common Shares Of La Quinta Resources Corp.
March 14, 2008
TORONTO, Canada (March 14, 2008) Pinetree Capital Ltd. (TSX: PNP), announces that, through a series of transactions ending on February 22, 2008, it acquired ownership of 661,500 common shares (“Common Shares”) of La Quinta Resources Corp. (“La Quinta”) through the facilities of the TSX Venture Exchange representing approximately 2.4% of the total issued and outstanding common shares of La Quinta as of February 22, 2008. As a result of this transaction, Pinetree held, as at February 22, 2008, an aggregate of 3,661,500 common shares of La Quinta and rights to acquire an additional 1,500,000 common shares of La Quinta upon the exercise of convertible securities (collectively, the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represent a total of 5,161,500 common shares of La Quinta, or approximately 17.5% of all issued and outstanding common shares as at February 22, 2008, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
These transactions were made for investment purposes and Pinetree could increase or decrease its investments in La Quinta depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree" or the "Company") was incorporated under the laws of the Province of Ontario and is 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 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.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
Larry Goldberg, C.A.
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