Pinetree Capital Ltd. (TSX: PNP) has acquired 94,200 common shares of Queenston Mining Inc through the Toronto Stock Exchange. As a result of this transaction Pinetree and its joint actors held an aggregate of 8,592,100 common shares and rights to acquire an additional 450,000 common shares upon the exercise of convertible securities. Following the transaction Pinetree’s direct ownership represents a total of 5,010,000 common shares of Queenston as of September 24, 2009.
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About Pinetree
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the Province of Ontario and its shares are publicly-traded on the Toronto Stock Exchange ("TSX") under the symbol "PNP". Pinetree is a diversified investment and merchant banking firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Uranium, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals. Pinetree's investment approach is to develop a macro view of a sector, build a position consistent with the view by identifying micro-cap opportunities within that sector, and devise an exit strategy designed to maximize our relative return in light of changing fundamentals and opportunities.
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