Business News • MarketWire • Pinetree Capital Ltd. Acquires Securities of Kirrin Resources Inc. |
Pinetree Capital Ltd. Acquires Securities of Kirrin Resources Inc. |
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Pinetree Capital Ltd. Acquires Securities of Kirrin Resources Inc.
TORONTO, ONTARIO--(Marketwire - March 19, 2010) - Pinetree Capital Ltd. (TSX:PNP), announces that on March 16, 2010, it acquired ownership of 1,500,000 common shares ("Common Shares") and 1,500,000 common share purchase warrants (the "Warrants") of Kirrin Resources Inc. ("Kirrin"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.14 until September 12, 2011. In the event that the Warrants are fully exercised, these holdings represent approximately 12.6% of the total issued and outstanding common shares of Kirrin as of March 16, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at March 16, 2010, an aggregate of 2,734,166 common shares of Kirrin and rights to acquire an additional 1,750,000 common shares of Kirrin upon the exercise of convertible securities (the "Convertible Securities"), in
View More : http://www.marketwire.com/mw/release.do?id=1134985&sourceType=3
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