Pinetree Capital Ltd. Acquires Securities of Southern Silver Exploration Corp.
TORONTO, ONTARIO–(Marketwire – March 11, 2011) – Pinetree Capital Ltd. (TSX:PNP), announces that through a series of transactions ending on March 9, 2011, it acquired ownership of 250,000 common shares (“Common Shares”) of Southern Silver Exploration Corp. (“Southern Silver”) representing approximately 0.2% of the total issued and outstanding common shares of Southern Silver as of March 9, 2011. As a result of this transaction, Pinetree and its joint actors collectively held, as at March 9, 2011, an aggregate of 9,949,500 common shares of Southern Silver, including the Common Shares and rights to acquire an additional 4,000,000 common shares of Southern Silver upon exercise of certain convertible securities (the “Convertible Securities”). Of these totals, Pinetree owns 7,449,500 common shares, including the Common Shares and 1,500,000 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 13,949,500 common shares of Southern Silver, or approximately 13.3% of all issued and outstanding common shares as at March 9, 2011, 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 represents a total of 8,949,500 common shares of Southern Silver, or approximately 8.8% of all issued and outstanding common shares as at March 9, 2011, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
