Canadian News
Pinetree Capital Acquires Securities Of Freewest Resources Canada - Quick Facts
11/26/2009 10:38 AM ET
(RTTNews) -
Pinetree Capital Ltd. (PNP.TO: News ) announces that it acquired ownership of 500,000 common shares of Freewest Resources Canada Inc. through the facilities of the TSX Venture Exchange, representing approximately 0.2% of the total issued and outstanding common shares of Freewest as at November 25, 2009.
As a result of this transaction, Pinetree and its joint actors held, as at November 25, 2009, an aggregate of 19.61 million common shares of Freewest and rights to acquire an additional 2.25 million common shares of Freewest upon the exercise of convertible securities, representing a total of 21.86 million common shares of Freewest, or approximately 10.1% of such shares outstanding as of November 25, 2009, calculated on a partially diluted basis assuming the exercise of the Convertible Securities.
As a result of this transaction, Pinetree held, as at November 25, 2009, an aggregate of 10.50 million common shares of Freewest, including the Common Shares, and 1.50 million of the Convertible Securities directly, representing a total of 12 million common shares of Freewest, or approximately 5.5% of such shares outstanding as of November 25, 2009, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
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by RTT Staff Writer
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