Pinetree Capital Ltd. Acquires Securities Of Opel International Inc.
May 4, 2009
TORONTO, Canada Pinetree Capital Ltd. (TSX: PNP), announces that, through a series of transactions ending on May 1, 2009, it acquired ownership of 838,200 common shares (“Common Shares”) of OPEL International Inc. (“OPEL”) through the facilities of the TSX Venture Exchange representing approximately 1.4% of the total issued and outstanding common shares of OPEL as of May 1, 2009. As a result of this transaction, Pinetree held, as at May 1, 2009, an aggregate of 5,550,000 common shares of OPEL and rights to acquire an additional 1,750,000 common shares of OPEL 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 7,300,000 common shares of OPEL, or approximately 11.7% of all issued and outstanding common shares as at May 1, 2009, 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 OPEL depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the
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.
Toronto, Ontario, Canada, M5X 1A9
Web Site: www.pinetreecapital.com