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Pinetree Capital Ltd. (TSX:PNP) announced that it has acquired ownership of 1,200,000 common shares of Bridgeport Ventures Inc. (TSX:PNP).
Pinetree Capital Ltd. (TSX:PNP) announced that it has acquired ownership of 1,200,000 common shares of Bridgeport Ventures Inc. (TSX:PNP).
As quoted in the press release:
As a result of this transaction, Pinetree and its joint actors collectively held, as at October 26, 2011, an aggregate of 6,520,000 common shares of Bridgeport, including the Common Shares and rights to acquire an additional 875,000 common shares of Bridgeport upon exercise of certain convertible securities (the “Convertible Securities”). Of these totals, Pinetree owns 4,450,000 common shares, including the Common Shares and 750,000 of the Convertible Securities (the “Pinetree Convertible Securities”) directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 7,395,000 common shares of Bridgeport, or approximately 14.4% of all issued and outstanding common shares as at October 26, 2011, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Pinetree Convertible Securities are fully exercised, the direct holdings of Pinetree represents a total of 5,200,000 common shares of Bridgeport, or approximately 10.1% of all issued and outstanding common shares as at October 26, 2011, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
Click here to read the Pinetree Capital press release.
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