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Pinetree Capital Acquires Securities of Pitchblack Resources

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Pinetree Capital Ltd. (PNP.TO) has acquired ownership of 1,500,000 common shares and 1,500,000 common share purchase warrants of Pitchblack Resources Ltd (PIT.V).

As a result of this transaction, Pinetree and its joint actors collectively held, as at March 25, 2013, an aggregate of 4,000,000 common shares of Pitchblack and rights to acquire an additional 3,000,000 common shares of Pitchblack upon exercise of certain convertible securities.

In the event that the convertible securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 7,000,000 common shares of Pitchblack, or approximately 19.4% of all issued and outstanding common shares.

PIT shares rose three cents to $0.14.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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