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Pinetree Capital Ltd Acquires Securities of Augusta Industries Inc


Wednesday, 30 Jan 2013 10:11am EST 

Pinetree Capital Ltd announced that on January 29, 2013, it acquired ownership of 20,000,000 common shares (Common Shares) and 6,666,666 common share purchase warrants (the Warrants) of Augusta Industries Inc (Augusta). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.10 until January 29, 2015. In the event that the Warrants are fully exercised, these holdings represent approximately 13.92% of the total issued and outstanding common shares of Augusta Industries Inc. as of January 29, 2013, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at January 29, 2013, an aggregate of 34,272,112 common shares of Augusta, including the Common Shares, and rights to acquire an additional 13,713,888 common shares of Augusta upon exercise of certain convertible securities, including the Warrants (the Convertible Securities). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 47,986,000 common shares of Augusta, or approximately 24.16% of all issued and outstanding common shares as at January 29, 2013, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. 

Company Quote

0.49
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17 Apr 2014