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Pinetree Capital Ltd. (TSX:PNP) announced that it acquired ownership of 1,000,000 common shares and 500,000 common share purchase warrants of El Tigre Silver Corp. as of October 19, 2012. Pinetree can increase or decrease its investment in El Tigre depending on market conditions.
Pinetree Capital Ltd. (TSX:PNP) announced that it acquired ownership of 1,000,000 common shares and 500,000 common share purchase warrants of El Tigre Silver Corp. as of October 19, 2012. Pinetree can increase or decrease its investment in El Tigre depending on market conditions.
As quoted in the press release:
Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.38 until October 19, 2014. In the event that the Warrants are fully exercised, these holdings represent approximately 3.2% of the total issued and outstanding common shares of El Tigre as of October 19, 2012, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at October 19, 2012, an aggregate of 3,350,000 common shares of El Tigre, including the Common Shares, and rights to acquire an additional 2,500,000 common shares of El Tigre upon exercise of certain convertible securities, including the Warrants (the “Convertible Securities”).
Click here to read the Pinetree Capital Ltd. (TSX:PNP) press release
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