Pinetree Capital Ltd. Acquires Securities Of Valley High Ventures Ltd.
February 18, 2011
TORONTO, Canada (February 18, 2011) Pinetree Capital Ltd. (TSX: PNP), announces that through a series of transactions ending on February 17, 2011, it acquired ownership of 85,500 common shares (“Common Shares”) of Valley High Ventures Ltd. (“Valley High”) through the facilities of the TSX Venture Exchange, representing approximately 0.1% of the total issued and outstanding common shares of Valley High as of February 17. 2011. As a result of this transaction, Pinetree and its joint actor collectively held, as at February 17, 2011, an aggregate of 5,769,400 common shares of Valley High, including the Common Shares and rights to acquire an additional 750,000 common shares of Valley High upon exercise of certain convertible securities (the “Convertible Securities”). Of these totals, Pinetree owns 5,669,400 common shares, including the Common Shares and the Convertible Securities directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 6,519,400 common shares of Valley High, or approximately 10.1% of all issued and outstanding common shares as at February 17, 2011, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Convertible Securities are fully exercised, the direct holdings of Pinetree represents a total of 6,419,400 common shares of Valley High, or approximately 10.0% of all issued and outstanding common shares as at February 17, 2011, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
This transaction was made for investment purposes and Pinetree, or its joint actor, could increase or decrease its/their investment in Valley High 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 venture capital 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 and is recognized as a value added partner in the resource industry.
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|