TORONTO, Oct. 18 /CNW/ - Pinetree Capital Ltd. (TSX: PNP), a Canadian
investment company, announces that it acquired ownership of 1,480,500 common
shares of Haemacure Corporation ("Haemacure"), or approximately 3.8% of the
common shares of Haemacure. As a result of this transaction, Pinetree and its
joint actors held, as at October 18, 2005, an aggregate of 5,012,500 common
shares of Haemacure and rights to acquire an aggregate of 2,710,000 common
shares of Haemacure upon exercise of convertible securities. If Pinetree and
its joint actors were to exercise all of these convertible securities, their
combined ownership would represent a total of 7,422,500 common shares of
Haemacure, or approximately 18.6% of such shares outstanding, on a partially
diluted basis assuming the exercise of the securities convertible into
2,710,000 common shares only.
The 1,480,500 common shares of Haemacure were acquired in purchases made
on the Toronto Stock Exchange.
These transactions were made for investment purposes and Pinetree and
each of its joint actors could increase or decrease their respective
investments in Haemacure depending on market conditions or any other relevant
factor.
About Pinetree
Pinetree Capital Ltd. ("Pinetree" or the "Company") was incorporated
under the laws of the Province of Ontario and is publicly traded on the
Toronto Stock Exchange ("TSX") under the symbol "PNP". The Company's principal
business is to fund emerging growth businesses with breakthrough proprietary
products. The Company's interests are primarily in companies with application
and platform software technologies, telecommunications and fibre optics
technologies, and biomedical technology. Pinetree also takes advantage of
special situations and merchant banking opportunities and makes investments in
other public companies in a variety of sectors.
For more details about Pinetree and its investments, please visit our
website at www.pinetreecapital.com.
This news release contains forward-looking statements within the meaning
of the "safe harbour" provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are subject to risks and
uncertainties and other factors that may cause Pinetree's results to differ
materially from expectations. These include risks relating to market
fluctuations, investee performance and other risks. These forward-looking
statements speak only as of the date hereof. Pinetree disclaims any intent or
obligation to update these forward-looking statements.
