Vanoil Energy Ltd. Acquired by Pinetree Capital Ltd. on January 18, 2012

On January 18, 2012, Pinetree Capital Ltd. (TSX:PNP) acquired ownership of 750,000 common shares of Vanoil Energy Ltd. representing approximately 1.7% of the total issued and outstanding common shares of Vanoil as of January 18, 2012.

As quoted in the press release:

As a result of this transaction, Pinetree and its joint actors collectively held, as at January 18, 2012, an aggregate of 5,900,000 common shares of Vanoil, including the Common Shares, and rights to acquire an additional 500,000 common shares of Vanoil upon exercise of certain convertible securities (the “Convertible Securities”). Of these totals, Pinetree owns 4,150,000 common shares, including the Common Shares, and 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 6,400,000 common shares of Vanoil, or approximately 14.6% of all issued and outstanding common shares as at January 18, 2012, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

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