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Gold/Mining/Energy : Pinetree Capital-PNP-CDNX -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (87)	12/18/1999 4:09:00 AM
From: Gulo	Respond to of 233

>"Pinetree holds an approximate 19% equity interest in GeneVest Inc. ("GeneVest"), a public company whose principal assets are an approximate 21% equity interest in Visible Genetics Inc. ("Visible Genetics") and an approximate 17% equity interest in the Corporation" This means simply that Pinetree and Genevest hold 19 and 17% of each other. Genevest's interest in VGIN was diluted to 16.6% since the AIF. That leaves Pinetree with 19% x 16.6% = 3.154% indirect interest in VGIN.

To: marcos who wrote (87)	12/18/1999 12:26:00 PM
From: keith massey	Read Replies (1) \| Respond to of 233

Both you guys found the same thing I did... it appears that we don't have 1 million VGIN but have shares of GEVE.U worth around $5 million which has a stake in VGIN. GEVE.U is selling for $3.15 Cdn and based on their shares of VGIN have a book value of around $9. This investment is worth $5 million on the books and not $43 million. Toronto, July 9, 1999 Pinetree Capital Corp. ("Pinetree") wishes to announce that Visible Genetics Inc. ("VGI"), a company in which Pinetree owns an approximate indirect 3% equity interest, today issued the following press release: I sent a bunch of people over to this thread but then thought I better triple check all the numbers just because I am anal when it comes to these things. I played this one before because of their LUMM holdings and am happy owning a couple of K at slightly lower prices but it is nice to have all the numbers right. Best Regards KEITH