Pinetree Capital Ltd. Acquires Securities of Latin American Minerals Inc.
October 6, 2009
TORONTO, Ontario (October 6, 2009) –
Ltd. (TSX: PNP), announces that on October 5, 2009 it acquired ownership of 2,000,000 common shares (“Common Shares”) of Latin American Minerals Inc. (“Latin American”), and 1,000,000 share purchase warrants (each, a “Warrant”) (each Warrant entitling the holder thereof to acquire one additional common share at an exercise price of $0.30 until October 5, 2011). In the event that the Warrants are fully exercised, these holdings represent approximately 4.1% of the total issued and outstanding common shares of Latin American as of October 5, 2009, calculated on a partially diluted basis assuming the exercise of Warrants only. Immediately following the acquisition, Pinetree owns an aggregate of 10,650,000 common shares of Latin American and rights to acquire an additional 1,500,000 common shares of Latin American upon the exercise of convertible securities including the Warrants (collectively, the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the direct holdings of Pinetree represent a total of 12,150,000 common shares of Latin American, or approximately 16.4% of all issued and outstanding common shares as at October 5, 2009, calculated on a partially diluted basis assuming the exercise of the 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" or the "Company") was incorporated under the laws of the
and is publicly traded on the Toronto Stock Exchange (“TSX”) under the symbol “PNP” and is included in the Standard & Poor's/Toronto Stock Exchange composite index. 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