Securities of Mega Uranium Ltd. Acquired by Pinetree Capital Ltd.

On February 2, 2012, Pinetree Capital Ltd. (TSX:PNP) acquired ownership of 150,000 common shares of Mega Uranium Ltd. through the facilities of the Toronto Stock Exchange, representing approximately 0.06% of the total issued and outstanding common shares of Mega as of February 2, 2012. As a result, Pinetree and its joint actors collectively held, an aggregate of 18,969,862 common shares of Mega, including the Common Shares, and rights to acquire an additional 7,687,211 common shares of Mega upon exercise of certain convertible securities.

As quoted in the press release:

Of these totals, Pinetree owns 13,150,000 common shares, including the Common Shares, and 2,424,712 of the 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 26,657,073 common shares of Mega, or approximately 10.1% of all issued and outstanding common shares as at February 2, 2012, 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 15,574,712 common shares of Mega, or approximately 6.0% of all issued and outstanding common shares as at February 2, 2012, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.

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