Pinetree Capital Acquires New Dimension Resources

Pinetree Capital Ltd. (TSX:PNP),reported on February 16, 2010, it acquired ownership of 625,000 common shares and 312,500 common share purchase warrants of New Dimension 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 $0.40 until February 16, 2011. In the event that the Warrants are fully exercised, these holdings represent approximately 2.5% per cent of the total issued and outstanding common shares of New Dimension as of February 16, 2010, 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 16, 2010, an aggregate of 4,214,000 common shares of New Dimension, including the Common Shares and rights to acquire an additional 1,262,500 common shares of New Dimension upon exercise of certain convertible securities, including the Warrants (the “Convertible Securities”). Of these totals, Pinetree owns 1,795,000 common shares, including the Common Shares and the Warrants, directly.

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