Pinetree Capital Ltd. Acquires Securities of La Quinta Resources Corporation

Pinetree Capital Ltd. (TSX:PNP) acquires ownership of 2,000,000 common shares and 2,000,000 common share purchase warrants of La Quinta Resources Corporation.

The press release is quoted as saying:

Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.10 until May 9, 2011 and at a price of $0.15 until November 9, 2011. In the event that the Warrants are fully exercised, these holdings represent approximately 5.8% of the total issued and outstanding common shares of La Quinta as of November 16, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at November 16, 2010, an aggregate of 7,999,500 common shares of La Quinta, including the Common Shares, and rights to acquire an additional 2,000,000 common shares of La Quinta upon exercise of certain convertible securities, including the Warrants (the “Convertible Securities”).

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