Pinetree Capital Buying Up Shares of Goldspike Exploration

Despite making headlines for dropping resource stocks as of late, investment firm Pinetree Capital Ltd. (TSX:PNP) appears to be picking up shares of at least one resource junior. Pinetree reported that it has acquired 280,000 common shares of Goldspike Exploration Inc. (TSXV:GSE) via a series of transactions — that’s roughly 0.5 percent of all issued and outstanding shares of Goldspike.

Goldspike recently announced a new high-grade zinc zone at its Lone Mountain project in Nevada. The company’s stock has gained approximately 37 percent in the past five days, with shares trading at $0.40 at close of day Thursday.

According to the press release:

In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 10,330,000 common shares of Goldspike, or approximately 18.4% of all issued and outstanding common shares as at November 19, 2014, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Pinetree Convertible Securities are fully exercised, the direct holdings of Pinetree represents a total of 2,530,000 common shares of Goldspike, or approximately 4.7% of all issued and outstanding common shares as at November 19, 2014, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

Click here to read the full Pinetree Capital (TSX:PNP) press release.