Pinetree Capital Ltd. Acquires Securities Of Vanoil Energy Ltd.
January 19, 2012
TORONTO, Canada (January 19, 2012) Pinetree Capital Ltd. (TSX: PNP), announces that on January 18, 2012, it acquired ownership of 750,000 common shares (“Common Shares”) of Vanoil Energy Ltd. (“Vanoil”) representing approximately 1.7% of the total issued and outstanding common shares of Vanoil as of January 18, 2012. As a result of this transaction, Pinetree and its joint actors collectively held, as at January 18, 2012, an aggregate of 5,900,000 common shares of Vanoil, including the Common Shares, and rights to acquire an additional 500,000 common shares of Vanoil upon exercise of certain convertible securities (the “Convertible Securities”). Of these totals, Pinetree owns 4,150,000 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 6,400,000 common shares of Vanoil, or approximately 14.6% of all issued and outstanding common shares as at January 18, 2012, 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 4,650,000 common shares of Vanoil, or approximately 10.6% of all issued and outstanding common shares as at January 18, 2012, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
These transactions were made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in Vanoil 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: Precious Metals, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal. 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. Pinetree is recognized as a value-added partner in the resource industry.
|Sheldon Inwentash||Richard Patricio|
|Chairman & CEO||Vice President, Legal and Corporate Affairs|
|Pinetree Capital Ltd.||Pinetree Capital Ltd.|
|130 King Street West, Suite 2500|
|Gerry Feldman||Toronto, Ontario, Canada, M5X 1A9|
|CFO & Vice President, Corporate Development||Phone: 416-941-9600|
|Pinetree Capital Ltd.||Email: firstname.lastname@example.org|