Pinetree increases Latin American holdings
Pinetree Capital Ltd (C:PNP)
Shares Issued 132,258,852
Last Close 10/5/2009 $1.72
Tuesday October 06 2009 - News Release
Also Latin American Minerals Inc (C:LAT) News Release
Mr. Larry Goldberg of Pinetree reports
PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF LATIN AMERICAN MINERALS INC.
On Oct. 5, 2009, Pinetree Capital Ltd. acquired ownership of two million common shares of Latin American Minerals Inc. and one million share purchase warrants (each warrant entitling the holder thereof to acquire one additional common share at an exercise price of 30 cents until Oct. 5, 2011). In the event that the warrants are fully exercised, these holdings represent approximately 4.1 per cent of the total issued and outstanding common shares of Latin American as of Oct. 5, 2009, calculated on a partially diluted basis assuming the exercise of warrants only. Immediately following the acquisition, Pinetree owns a total of 10.65 million common shares of Latin American and rights to acquire an additional 1.5 million common shares of Latin American upon the exercise of convertible securities including the warrants. In the event that the convertible securities are fully exercised, the direct holdings of Pinetree represent a total of 12.15 million common shares of Latin American, or approximately 16.4 per cent of all issued and outstanding common shares as at Oct. 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.
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