Business
Pinetree Capital Ltd. acquires commons shares of Fieldex Exploration
Pinetree Capital Ltd. acquires commons shares of Fieldex Exploration.
About this update from Pinetree Capital Ltd.
[{"type":"text","content":"\n\n\n\n\nROUYN-NORANDA, QC, Dec. 8 /CNW Telbec/ - Fieldex Exploration Inc.\n(FLX:TSXV) wishes to announce that Pinetree Capital Ltd. (PNP: TSX) acquired\nownership of two million common shares of Fieldex Exploration Inc. and two\nmillion share purchase warrants on Nov. 29, 2005. Each warrant entitles the\nholder to acquire one additional common share, at an exercise price of\n20 cents, until Nov. 28, 2007.\nIn the event that the warrants are fully exercised, these holdings\nrepresent approximately 18.6 per cent of the total issued and outstanding\ncommon shares of Fieldex as of Nov. 29, 2005, calculated on a partially\ndiluted basis, assuming the exercise of warrants only. As a result of this\ntransaction, Pinetree and its joint actors held, as at Nov. 29, 2005,\n2,916,667 common shares of Fieldex. Pinetree and its joint actors also held\nrights to acquire 4,016,667 common shares of Fieldex upon exercise of\nconvertible securities, including the warrants. Of these totals, Pinetree\nholds two million common shares and the two million warrants directly. If\nPinetree and its joint actors were to exercise all of these convertible\nsecurities, their combined ownership would represent a total of 6,933,334\ncommon shares of Fieldex, or approximately 29.4 per cent of such shares\noutstanding as of Nov. 29, 2005, calculated on a partially diluted basis,\nassuming the exercise of the convertible securities only. If only the warrants\nare fully exercised, the direct holdings of Pinetree represent approximately\n18.6 per cent of all issued and outstanding common shares of Fieldex as of\nNov. 29, 2005, calculated on a partially diluted basis assuming the exercise\nof the warrants only.\nThese transactions were made for investment purposes, and Pinetree and\neach of its joint actors could increase or decrease their respective\ninvestments in Fieldex depending on market conditions or any other relevant\nfactor.\n\nAbout Fieldex:\n\nFieldex is a mineral resource company actively exploring deposits in\nQuebec in partnership with FNX Mining Company for nickel-copper-platinum group\nmetal and for gold with Cambior and LakeShore Gold Corp. Fieldex owns many\nproperties located in Northern Quebec, representing over 600 km(2).\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this releas...