Pinetree Capital (PNP-T) increases Wolfpack Gold (WFP-V) holdings to 12.2%
May 21, 2013 - News Release
Mr. Sheldon Inwentash of Pinetree Capital reports
On May 21, 2013, as a result of a reverse takeover by Wolfpack Gold Corp. of Tigris Uranium Corp., Pinetree Capital Ltd. acquired ownership of 4,266,666 common shares of Wolfpack Gold, representing approximately 8.6 per cent of the total issued and outstanding common shares of Wolfpack as of May 21, 2013. As a result of this transaction, Pinetree and its joint actors collectively held, as at May 21, 2013, an aggregate of 6,041,666 common shares of Wolfpack, including the recently acquired common Shares, representing approximately 12.2 per cent of all issued and outstanding common shares as at May 21, 2013.
These transactions were made for investment purposes, and Pinetree or its joint actors could increase or decrease their investment in Wolfpack depending on market conditions or any other relevant factor.
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Americas Bullion (AMB-T) sells land to Wolfpack Gold (WFP-V) for 12% stake
May 22, 2013 - News Release
Effective May 21, 2013, Wolfpack Gold Corp. commenced trading under WFP following the completion of the reverse takeover transaction with Tigris Uranium Corp. Americas Bullion Royalty Corp. vended 17 properties into Wolfpack Gold, creating and retaining a royalty interest on each project. Americas Bullion also received six million shares, representing approximately 12 per cent of the common stock.
Wolfpack Gold
Wolfpack is committed to maximizing shareholder value, and is well positioned with cash and marketable securities of approximately $8.2-million, and a low annual expenditure rate. Wolfpack's mandate is to advance low-cost heap-leach and high-grade underground gold projects toward production in the Western United States while maintaining an important asset base in uranium. Wolfpack owns a significant portfolio of gold properties located in Nevada and surrounding states, and has options to acquire certain properties, including the Castle Black Rock and Adelaide properties located in Nevada. The company's portfolio has seen little to no activity since gold prices were below $400 (U.S.) per ounce. Both Adelaide and Castle Black Rock have previous operating histories as open-pit heap-leach operations during the late 1980s, when they were closed due to low gold prices.
In addition, the company owns plus 115,000 acres (46,400 hectares) of private mineral rights, with an indicated resource of 26.6 million pounds triuranium octoxide at an average grade of 0.105 per cent equivalent U3O8 and an inferred resource of 6.1 million pounds U3O8 at an average grade of 0.110 eU3O8 (Beahm, 2012). The mining properties are located in New Mexico's Crownpoint uranium district, a portion of which are under NRC licence, and benefit from an increasingly progressive New Mexico regulatory and political environment.
"With Wolfpack Gold now trading we have completed an important step in realizing value from our property assets in Nevada. We look forward to the long-term benefit from the royalty interests and our significant equity position in Wolfpack," said William M. Sheriff, chairman. "The Nevada team, led by Nate Tewalt, has a number of gold discoveries to their credit in Nevada and we look forward to enjoying the benefits from their future success in what we view as one of the world's best mining jurisdictions with proven mineral endowment."
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