Pinetree Capital Ltd. (PNP.TO: Quote) announced that on October 19, 2012, it acquired ownership of 1.0 million common shares and 500,000 common share purchase warrants of El Tigre Silver Corp.
The company said that each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.38 until October 19, 2014.
In the event that the Warrants are fully exercised, these holdings represent about 3.2% of the total issued and outstanding common shares of El Tigre as of October 19, 2012, calculated on a partially diluted basis assuming the exercise of the Warrants only, the company stated.
As a result of this transaction, Pinetree noted that it held, as at October 19, 2012, an aggregate of 3.35 million common shares of El Tigre, including the Common Shares, and rights to acquire an additional 2.50 million common shares of El Tigre upon exercise of certain convertible securities, including the Warrants.
Pinetree said that in the event that the Convertible Securities are fully exercised, the holdings of the company represents a total of 5.85 million common shares of El Tigre, or approximately 12.1% of all issued and outstanding common shares as at October 19, 2012, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
