Business News • MarketWire • Pinetree Capital Ltd. Acquires Securities of War Eagle Mining Company Inc. |
Pinetree Capital Ltd. Acquires Securities of War Eagle Mining Company Inc. |
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Pinetree Capital Ltd. Acquires Securities of War Eagle Mining Company Inc.
TORONTO, CANADA--(Marketwire - Dec. 24, 2012) - Pinetree Capital Ltd. (TSX:PNP), announces that on December 21, 2012, it acquired ownership of 1,403,509 common shares ("Common Shares") and 1,403,509 common share purchase warrants (the "Warrants") of War Eagle Mining Company Inc. ("War Eagle"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.10 until December 21, 2014. In the event that the Warrants are fully exercised, these holdings represent approximately 21.3% of the total issued and outstanding common shares of War Eagle as of December 21, 2012, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at December 21, 2012, an aggregate of 1,898,484 common shares of War Eagle, including the Common Shares, and rights to acquire an additional 1,698,509 common shares of War Eagle 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 3,596,993 common shares of War Eagle, or approximately 26.7% of all issued and outstanding common shares as at December 21, 2012, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
View More : http://www.marketwire.com/mw/release.do?id=1740925&sourceType=3
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