Pinetree Capital Ltd. Acquires Securities of Goldeye Explorations Ltd.

Pinetree Capital Ltd. (TSX:PNP), reported that on May 19, 2010, it acquired ownership of 2,000,000 common shares and 2,000,000 common share purchase warrants of Goldeye Explorations Ltd.

The press release is quoted as saying:

Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.14 until May 19, 2012. In the event that the Warrants are fully exercised, these holdings represent approximately 3.1% of the total issued and outstanding common shares of Goldeye as of May 19, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at May 19, 2010, an aggregate of 13,749,500 common shares of Goldeye, including the Common Shares, and rights to acquire an additional 4,250,000 common shares of Goldeye 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 17,999,500 common shares of Goldeye, or approximately 13.7% of all issued and outstanding common shares as at May 19, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

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