PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF
NORTHROCK RESOURCES INC.
TORONTO, Ontario (July 7, 2009) – Pinetree Capital Ltd. (TSX: PNP), announces that on July 6, 2009, it
acquired ownership of 2,000,000 common shares (“Common Shares”) of Northrock Resources Inc. (“Northrock”)
and 2,000,000 common share purchase warrants (the “Warrants”). Each Warrant entitles the holder thereof to
acquire one additional common share until December 31, 2010, at a price of $0.10. In the event that the
Warrants are fully exercised, these holdings represent approximately 6.8% of the total issued and outstanding
common shares of Northrock as of July 6, 2009, calculated on a partially diluted basis assuming the exercise of
the Warrants only. As a result of this transaction, Pinetree and its joint actors held, as at July 6, 2009, an
aggregate of 4,610,899 common shares of Northrock, including the Common Shares and convertible securities
exercisable into 4,610,899 common shares of Northrock (the “Convertible Securities”), including the Warrants.
Of these totals, Pinetree directly holds 3,270,899 common shares and rights to acquire an additional 3,270,899
common shares of Northrock upon exercise of convertible securities (the “Pinetree Convertible Securities”),
including the Warrants. If Pinetree and its joint actors were to exercise all of the Convertible Securities, their
combined ownership would represent a total of 9,221,798 common shares of Northrock, or approximately 27.8%
of such shares outstanding as of July 6, 2009, calculated on a partially diluted basis assuming the exercise of
the Convertible Securities only. If Pinetree were to exercise all of the Pinetree Convertible Securities, its direct
ownership would represent a total of 6,541,798 common shares of Northrock, or approximately 20.5% of such
shares outstanding as of July 6, 2009, calculated on a partially diluted basis assuming the exercise of the
Pinetree 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 Northrock depending on market conditions or any other relevant
factor.
About Pinetree
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 merchant banking firm focused on the small cap market. Pinetree’s investments are primarily in
the resources sector: Uranium, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base
Metals. 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.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com |
