TORONTO, ONTARIO--(Marketwired - July 14, 2016) - Pinetree Capital Ltd. (TSX:PNP) ("Pinetree") today announced that on June 30, 2016 it sold 108,000 common shares of Terreno Resources Corp. ("Terreno") at a price of C$0.0592 per share, for an aggregate sale price of C$6,390.04 (the "Transaction"). The Transaction was completed through the facilities of the TSX Venture Exchange.
Prior to the Transaction, Pinetree beneficially owned 1,214,483 common shares of Terreno (including 100,000 exercisable common share purchase warrants held by Pinetree), representing approximately 10.71% of Terreno's issued and outstanding common shares. As a result of the Transaction, Pinetree now beneficially owns 1,106,483 common shares of Terreno (including 100,000 exercisable common share purchase warrants held by Pinetree), representing approximately 9.76% of Terreno's issued and outstanding common shares.
In the future, Pinetree may from time to time acquire or dispose ownership of, or control or direction over, additional securities of Terreno for investment purposes.
This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR profile of Terreno at www.sedar.com. To obtain a copy of the early warning report, you may also contact Peter Tolnai, the Chief Executive Officer of Pinetree at 416-941-9600. As a result of the Transaction, Pinetree's ownership of common shares of Terreno is now below the reporting threshold prescribed by applicable securities laws.
Pinetree is a diversified investment and merchant banking firm focused on the small cap market, with early stage investments in resource, biotechnology and technology companies. Pinetree's shares are listed on the Toronto Stock Exchange under the symbol "PNP".