Business
Pinetree Capital Ltd. acquires common shares of Haemacure Corporation
Pinetree Capital Ltd. acquires common shares of Haemacure Corporation.
About this update from Pinetree Capital Ltd.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Oct. 18 /CNW/ - Pinetree Capital Ltd. (TSX: PNP), a Canadian\ninvestment company, announces that it acquired ownership of 1,480,500 common\nshares of Haemacure Corporation (\"Haemacure\"), or approximately 3.8% of the\ncommon shares of Haemacure. As a result of this transaction, Pinetree and its\njoint actors held, as at October 18, 2005, an aggregate of 5,012,500 common\nshares of Haemacure and rights to acquire an aggregate of 2,710,000 common\nshares of Haemacure upon exercise of convertible securities. If Pinetree and\nits joint actors were to exercise all of these convertible securities, their\ncombined ownership would represent a total of 7,422,500 common shares of\nHaemacure, or approximately 18.6% of such shares outstanding, on a partially\ndiluted basis assuming the exercise of the securities convertible into\n2,710,000 common shares only.\nThe 1,480,500 common shares of Haemacure were acquired in purchases made\non the Toronto Stock Exchange.\nThese transactions were made for investment purposes and Pinetree and\neach of its joint actors could increase or decrease their respective\ninvestments in Haemacure depending on market conditions or any other relevant\nfactor.\n\nAbout Pinetree\n\nPinetree Capital Ltd. (\"Pinetree\" or the \"Company\") was incorporated\nunder the laws of the Province of Ontario and is publicly traded on the\nToronto Stock Exchange (\"TSX\") under the symbol \"PNP\". The Company's principal\nbusiness is to fund emerging growth businesses with breakthrough proprietary\nproducts. The Company's interests are primarily in companies with application\nand platform software technologies, telecommunications and fibre optics\ntechnologies, and biomedical technology. Pinetree also takes advantage of\nspecial situations and merchant banking opportunities and makes investments in\nother public companies in a variety of sectors.\nFor more details about Pinetree and its investments, please visit our\nwebsite at www.pinetreecapital.com.\n\nThis news release contains forward-looking statements within the meaning\nof the \"safe harbour\" provisions of the Private Securities Litigation Reform\nAct of 1995. These forward-looking statements are subject to risks and\nuncertainties and other factors that may cause Pinetree's results to differ\nmaterially from expectations. These include risks relati...