Pinetree Capital Ltd.: Pinetree Capital Ltd. Acquires Common Shares of Geologix Explorations Inc.
Pinetree Capital Ltd. Acquires Common Shares of Geologix Explorations Inc.
TORONTO, ONTARIO — (MARKET WIRE) — January 24, 2007 — Pinetree Capital Ltd. (TSX: PNP), announces that, though a series
of transactions ending on January 23, 2007, it acquired ownership of 145,000 common shares (”Common Shares”) of Geologix Explorations Inc. (”Geologix”) through the facilities of the TSX Venture Exchange representing approximately 0.5% of the total issued and outstanding common shares of Geologix as of January 23, 2007. As a result of this transaction, Pinetree held, as at January 23, 2007, an aggregate of 2,379,000 common shares of Geologix, and convertible securities exercisable into an additional 500,000 common shares of Geologix, or 10.0% of all issued and outstanding common shares of Geologix as at January 23, 2007, calculated on a partially diluted basis assuming the exercise of the 500,000 convertible securities only.
These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Geologix depending on market conditions or any other relevant factor.
About Pinetree
Pinetree Capital Ltd. (”Pinetree” or the “Company”), which is publicly traded on the Toronto Stock Exchange (”TSX”) under the symbol “PNP”, is a diversified investment, financial advisory and merchant banking firm focused on the small cap market. Pinetree’s investments are primarily in the resources sector: Oil & Gas, Uranium, Precious Metals and Base Metals.
Pinetree’s investment approach is to build a macro position in a sector, find the micro-cap opportunities in that sector and work with those companies to build them to commercial production and create an exit.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Pinetree’s results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Pinetree disclaims any intent or obligation to update these forward-looking statements.
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