Toronto-based private equity and venture capital firm Pinetree Capital has acquired a stake in El Nino Ventures Inc. As a result of the transaction, Pinetree now holds approximately 11% of all issued and outstanding common shares in the company. Based in Vancouver, British Columbia, El Nino is an international base metals exploration company. Update: Its current focus is on zinc and cobalt-copper projects in New Brunswick and the Democratic Republic of Congo.
TORONTO, CANADA–(Marketwired – Sept. 16, 2013) – Pinetree Capital Ltd. (TSX:PNP) announces that on September 12, 2013, it acquired ownership of 2,500,000 common shares (“Common Shares”) and 1,250,000 common share purchase warrants (the “Warrants”) of El Nino Ventures Inc. (“El Nino”). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.05 until September 12, 2014 and at a price of $0.10 until September 12, 2015. In the event that the Warrants are fully exercised, these holdings represent approximately 4.7% of the total issued and outstanding common shares of El Nino as of September 12, 2013, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at September 12, 2013, an aggregate of 6,850,000 common shares of El Nino, including the Common Shares, and rights to acquire an additional 2,050,000 common shares of El Nino upon exercise of certain convertible securities, including the Warrants (the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 8,900,000 common shares of El Nino, or approximately 11.0% of all issued and outstanding common shares as at September 12, 2013, 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 El Nino depending on market conditions or any other relevant factor.
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 venture capital firm focused on the small cap market. Pinetree’s investments are primarily in the resources sector: Precious Metals, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal. 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. Pinetree is recognized as a value-added partner in the resource industry.
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