Parallel Mining Corp. Securities Acquired by Pinetree Capital Ltd.

On February 28, 2012, Pinetree Capital Ltd. (TSX:PNP) acquired ownership of 800,000 common shares and 800,000 common share purchase warrants of Parallel Mining Corp.

As quoted in the press release:

Each Warrant entitles the holder to acquire one common share of Parallel at a price of $0.25 until February 24, 2014. In the event that the Warrants are fully exercised, these holdings represent approximately 17.8% of the total issued and outstanding common shares of Parallel as of February 28, 2012, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree and its joint actors collectively held, as at February 28, 2012, an aggregate of 1,066,222 common shares of Parallel, including the Common Shares, and the Warrants. Of these totals, Pinetree owns 1,044,000 common shares, including the Common Shares, and the Warrants directly.

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