Pinetree Buys A Million Shares of Oroco

Pinetree Capital Ltd. (TSX:PNP) announced it has purchased one million common shares of Oroco (TSXV:OCO).

As quoted in the press release:

Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.40 until September 6, 2013. In the event that the Warrants are fully exercised, these holdings represent approximately 2.2% of the total issued and outstanding common shares of Oroco as of March 12, 2012, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at March 12, 2012, an aggregate of 7,500,000 common shares of Oroco, including the Common Shares, and rights to acquire an additional 2,000,000 common shares of Oroco upon exercise of certain convertible securities, including the Warrants.

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