TORONTO, CANADA--(Marketwire - Jan. 14, 2011) - Pinetree Capital Ltd. (TSX:PNP), announces that on January 11, 2011, it acquired ownership of 750,000 common shares ("Common Shares") of Tigris Uranium Corp. ("Tigris") through the facilities of the TSX Venture Exchange, representing approximately 1.6% of the total issued and outstanding common shares of Tigris as of January 11, 2011. As a result of this transaction, Pinetree held, as at January 11, 2011, an aggregate of 4,250,000 common shares of Tigris, including the Common Shares, and rights to acquire an additional 750,000 common shares of Tigris upon exercise of certain convertible securities (the "Convertible Securities"). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 5,000,000 common shares of Tigris, or approximately 10.8% of all issued and outstanding common shares as at January 11, 2011, 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 Tigris 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 merchant banking firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Uranium and Coal, Oil & Gas, Precious Metals, Base Metals and Potash, Lithium and Rare Earths. 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.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.
Contact Information: Pinetree Capital Ltd.
Chairman & CEO
Pinetree Capital Ltd., Richard Patricio
Vice President, Legal and Corporate Affairs