Pinetree Capital Ltd. Acquires Securities Of Potash Ridge Corporation
November 19, 2014
TORONTO, Canada (November 19, 2014) Pinetree Capital Ltd. (TSX: PNP), announces that through a series of transactions that ending on November 18, 2014, it acquired ownership of 500,000 common shares (“Common Shares”) of Potash Ridge Corporation (“Potash Ridge”) through the facilities of the TSX Venture Exchange representing approximately 0.6% of the total issued and outstanding common shares of Potash Ridge as of November 18, 2014. As a result of this transaction, Pinetree and its joint actors collectively held, as at November 18, 2014, an aggregate of 12,567,500 common shares of Potash Ridge, including the Common Shares, and rights to acquire an additional 2,000,000 common shares of Potash Ridge upon exercise of certain convertible securities (the “Convertible Securities”). Of these totals, Pinetree owns 11,024,500 common shares, including the Common Shares, and 1,250,000 of the Convertible Securities directly (the “Pinetree Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 14,567,500 common shares of Potash Ridge, or approximately 17.4% of all issued and outstanding common shares as at November 18, 2014, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Pinetree Convertible Securities are fully exercised, the direct holdings of Pinetree represents a total of 12,274,500 common shares of Potash Ridge, or approximately 14.8% of all issued and outstanding common shares as at November 18, 2014, 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 Potash Ridge 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 Precious Metals, Uranium and Technology sectors. 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.
|Sheldon Inwentash, CPA, CA.||Richard Patricio, LL.B.|
|Chairman & CEO||Vice President, Legal and Corporate Affairs|
|Pinetree Capital Ltd.||Pinetree Capital Ltd.|
|130 King Street West, Suite 250|
|Gerry Feldman, CPA, CA.||Toronto, Ontario, Canada, M5X 2A2|
|CFO & Vice President, Corporate Development||Phone: 416-941-9600|