Pinetree Capital (PNP-T) increases Novo Resources holdings to 10.2%
Jan 17, 2013 - News Release
Pinetree Capital Ltd., on Jan. 17, 2013, acquired ownership of 1,428,571 common shares of Novo Resources Corp., representing approximately 3.4 per cent of the total issued and outstanding common shares of Novo as of Jan. 17, 2013. As a result of this transaction, Pinetree and its joint actors collectively held, as at Jan. 17, 2013, an aggregate of 3,587,571 common shares of Novo, including the common shares, and rights to acquire an additional 750,000 common shares of Novo upon exercise of certain convertible securities. Of these totals, Pinetree owns 2,178,571 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 represent a total of 4,337,571 common shares of Novo, or approximately 10.2 per cent of all issued and outstanding common shares as at Jan. 17, 2013, 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 represent a total of 2,928,571 common shares of Novo, or approximately 6.9 per cent of all issued and outstanding common shares as at Jan. 17, 2013, 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 Novo depending on market conditions or any other relevant factor. |
