Pinetree Capital (PNP-T) acquires four million LeoNovus (LTV-V) shares
Pinetree Capital Ltd., on Jan. 21, 2014, acquired ownership of four million common shares and four million common share purchase warrants of LeoNovus Inc. Each warrant entitles the holder thereof to acquire one additional common share at a price of 40 cents until Jan. 21, 2016. In the event that the warrants are fully exercised, these holdings represent approximately 7.2 per cent of the total issued and outstanding common shares of LeoNovus as of Jan. 21, 2014, calculated on a partially diluted basis assuming the exercise of the warrants only. As a result of this transaction, Pinetree held, as at Jan. 21, 2014, an aggregate of 10,186,500 common shares of LeoNovus, including the common shares, and rights to acquire an additional 9.5 million common shares of LeoNovus upon exercise of certain convertible securities, including the warrants. In the event that the convertible securities are fully exercised, the holdings of Pinetree represents a total of 19,686,500 common shares of LeoNovus, or approximately 16.9 per cent of all issued and outstanding common shares as at Jan. 21, 2014, calculated on a partially diluted basis assuming the exercise of the convertible securities only. This transaction was made for investment purposes, and Pinetree could increase or decrease its investment in LeoNovus depending on market conditions or any other relevant factor. |
