This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Pinetree buys 2.5 million more Sparton shares 2009-10-30 10:24 ET - News Release Also News Release (C-SRI) Sparton Resources Inc
Mr. Larry Goldberg reports PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF SPARTON RESOURCES INC.
Pinetree Capital Ltd. acquired ownership of 2.5 million common shares of Sparton Resources Inc. and 2.5 million common share purchase warrants, on Oct. 5, 2009. Each warrant entitles the holder thereof to acquire one additional common share until Oct. 5, 2011, at a price of 15 cents each. In the event that the warrants are fully exercised, these holdings represent approximately 6.3 per cent of the total issued and outstanding common shares of Sparton as of Oct. 5, 2009, calculated on a partially diluted basis assuming the exercise of the warrants only. As a result of this transaction, Pinetree and its joint actors held, as at Oct. 5, 2009, an aggregate of 9,803,167 common shares of Sparton, including the common shares, and rights to acquire an additional 4,566,667 common shares of Sparton upon the exercise of convertible securities, including the warrants, representing a total of 14,369,834 common shares of Sparton, or approximately 17.6 per cent of such shares outstanding as of Oct. 5, 2009, calculated on a partially diluted basis assuming the exercise of the convertible securities only. Pinetree's direct ownership, following the transaction (including the common shares and the warrants), represents a total of 10,236,500 common shares of Sparton, or approximately 12.9 per cent of such shares outstanding as of Oct. 5, 2009, calculated on a partially diluted basis assuming the exercise of the warrants only. The remainder is available to Stockwatch subscribers.
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