Pinetree Capital Ltd. (TSX:PNP) announced that on November 17, 2011, it acquired ownership of 1,500,000 common shares and 750,000 common share purchase warrants of Unigold Inc.
As quoted in the press release:
Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.15 until November 17, 2013. In the event that the Warrants are fully exercised, these holdings represent approximately 1.3% of the total issued and outstanding common shares of Unigold as of November 17, 2011, 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 November 17, 2011, an aggregate of 18,276,500 common shares of Unigold, including the Common Shares and rights to acquire an additional 3,000,000 common shares of Unigold upon exercise of certain convertible securities (the “Convertible Securities”), including the Warrants.