Pinetree Capital Ltd. Acquires Securities of Zone Resources Inc.

Pinetree Capital reports that it has acquired ownership of 1,500,000 common shares and 1,500,000 common share purchase warrants of  Zone Resources Inc.

Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.18 until May 14, 2011, thereafter at a price of $0.23 until May 14, 2012 and thereafter at a price of $0.28 until May 14, 2013. In the event that the Warrants are fully exercised, these holdings represent approximately 13.0% of the total issued and outstanding common shares of Zone as of May 14, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only.

For complete news release, click here.

For Pinetree Capital’s company profile, click here.