TORONTO, ONTARIO--(Marketwired - Feb. 13, 2014) - Pinetree Capital Ltd. (TSX:PNP), announces that on February 13, 2014, it acquired ownership of 2,775,385 common shares ("Common Shares") and 2,775,385 common share purchase warrants (the "Warrants") of Poet Technologies Inc. ("Poet"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $1.00 until February 13, 2016. In the event that the Warrants are fully exercised, these holdings represent approximately 3.8% of the total issued and outstanding common shares of Poet as of February 13, 2014, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree and its joint actors collectively held, as at February 13, 2014, an aggregate of 14,954,885 common shares of Poet, including the Common Shares, and rights to acquire an additional 13,471,385 common shares of Poet upon the exercise of convertible securities (the "Convertible Securities"). Of these totals, Pinetree owns 8,525,385 common shares, including the Common Shares, and the 7,777,385 of the Convertible Securities (the "Pinetree Convertible Securities") directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 28,426,270 common shares of Poet or approximately 18.2% of all issued and outstanding common shares as at February 13, 2014, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Pinetree Convertible Securities are fully exercised, the direct holdings of Pinetree represent a total of 16,300,770 common shares of Poet, or approximately 10.8% of all issued and outstanding common shares as at February 13, 2014, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
These transactions were made for investment purposes and Pinetree and its joint actors could increase or decrease their investment in Poet depending on market conditions or any other relevant factor.
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 venture capital firm focused on the small cap market. Pinetree's investments are primarily in the Precious Metals, Uranium and Technology sectors. 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. Pinetree is recognized as a value-added partner in the resource industry.