Securities of Torch River Resources Ltd. Acquired by Pinetree Capital Ltd.

Pinetree Capital Ltd. (TSX:PNP), announced that on January 27, 2012, it acquired ownership of 1,000,000 common shares and 1,000,000 common share purchase warrants of Torch River Resources Ltd.

As quoted in the press release:

Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.10 until January 26, 2014. In the event that the Warrants are fully exercised, these holdings represent approximately 5.1% of the total issued and outstanding common shares of Torch River as of January 27, 2012, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at January 27, 2012, an aggregate of 6,625,000 common shares of Torch River, including the Common Shares, and rights to acquire an additional 3,312,500 common shares of Torch River upon exercise of certain convertible securities, including the Warrants (the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 9,937,500 common shares of Torch River, or approximately 24.0% of all issued and outstanding common shares as at January 27, 2012, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

Click here to read the Pinetree Capital Ltd. (SX:PNP) press release