Pinetree Capital Ltd. Acquires Securities Of Salmon River Resources Ltd.
February 7, 2011
TORONTO, Canada Pinetree Capital Ltd. (TSX: PNP), announces that on February 4, 2011, it acquired ownership of 250,000 common shares (“Common Shares”) of Salmon River Resources Ltd. (“Salmon River”) through the facilities of the TSX Venture Exchange, representing approximately 0.6% of the total issued and outstanding common shares of Salmon River as of February 4, 2011. As a result of this transaction, Pinetree and its joint actor collectively held, as at February 4, 2011, an aggregate of 4,250,000 common shares of Salmon River, including the Common Shares, or approximately 10.86% of the total issued and outstanding common shares of Salmon River as of February 4, 2011. Of these totals, Pinetree owns 2,250,000 common shares, including the Common Shares, directly, or approximately 5.7% of the total issued and outstanding common shares of Salmon River as of February 4, 2011.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Salmon River depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the Province of 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 and Coal, Oil & Gas, Precious Metals, Base Metals and Potash, Lithium and Rare Earths. 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
|Sheldon Inwentash||Richard Patricio|
|Chairman & CEO||Vice President, Legal and Corporate Affairs|
|Pinetree Capital Ltd.||Pinetree Capital Ltd.|
|130 King Street West, Suite 2500||130 King Street West, Suite 250|
|Toronto, Ontario, Canada, M5X 1A9||Toronto, Ontario, Canada, M5X 1A9|
|Website: www.pinetreecapital.com||Phone: 416-941-9600|