Pinetree Capital Ltd. Acquires Securities of ValGold Resources Ltd.

Pinetree Capital Ltd. (TSX:PNP) acquires ownership of 1,000,000 common shares and 1,000,000 common share purchase warrants of ValGold Resources Ltd.

The press release is quoted as saying:

Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.50 until November 23, 2012. In the event that the Warrants are fully exercised, these holdings represent approximately 6.6% of the total issued and outstanding common shares of ValGold as of November 26, 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 26, 2010, an aggregate of 4,000,000 common shares of ValGold, including the Common Shares, and rights to acquire an additional 2,000,000 common shares of ValGold 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 6,000,000 common shares of ValGold, or approximately 19.1% of all issued and outstanding common shares as at November 26, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

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