Pinetree Capital Ltd. Acquires Securities Of Ami Resources Inc.
May 8, 2009
TORONTO, Canada Pinetree Capital Ltd. (TSX: PNP), announces that on May 6, 2009, it acquired ownership of 2,000,000 common shares (“Common Shares”) of AMI Resources Inc. (“AMI”) and 2,000,000 common share purchase warrants (the “Warrants”). Each Warrant entitles the holder to purchase one additional common share at a price of $0.10 per share until May 6, 2010. In the event that the Warrants are fully exercised, these holdings represent approximately 11.8% of the total issued and outstanding common shares of AMI as of May 6, 2009. As a result of this transaction, Pinetree and his joint actors collectively held, as at May 6, 2009, an aggregate of 4,638,000 common shares of AMI, including the Common Shares and rights to acquire an additional 2,640,000 common shares of AMI upon the exercise of convertible securities, including the Warrants (collectively, the “Convertible Securities”). Of these totals, Pinetree owns the 4,638,000 common shares and the Warrants directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 7,278,000 common shares of AMI, or approximately 18.3% of all issued and outstanding common shares as at May 6, 2009, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Warrants are fully exercised, the holdings of Pinetree represent a total of 6,638,000 common shares of AMI, or approximately 16.9% of all issued and outstanding common shares as at May 6, 2009, calculated on a partially diluted basis assuming the exercise of the Warrants only.
These transactions were made for investment purposes and Pinetree could increase or decrease its investments in AMI 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