www.knick.ca
Knick is engaged in exploring its flagship East-West property, located in the Val-d’Or Mining Camp along strike between the active Kiena mine (Wesdome Mining Ltd., TSX–WDO) and past gold producer Marban mine (Niogold Mining Corp., TSX.V-NOX). Most historical drilling has been limited to “shallow holes”, generally less than 200 m, and the Company is very excited about the property’s “blue sky” potential at mid-depth plus. A $1.1 million budget has been allocated for the 2009 exploration program on the East-West property.
Pinetree boosts shareholding in Knick Exploration to up to 15.7%
Small-cap investor Pinetree Capital (TSX:PNP) said that it acquired up to an additional 8.6% in Knick Exploration (TSX-V:KNX), for a total stake of up to 15.7%.
Knick's flagship property is the East-West project, located in the Val-d’Or Mining Camp along strike between the active Kiena mine (Wesdome Mining Ltd., TSX–WDO) and past gold producer Marban mine (Niogold Mining Corp., TSX.V-NOX).
Last Friday, Pinetree acquired 1.0 million common shares and 1.0 million common share purchase warrants of Knick, with each warrant giving the holder a right to acquire an additional common share at a price of $0.30 until November 2011, and at a price of $0.35 until November 2012.
If the warrants are fully exercised, these holdings represent 8.6% of Knick, calculated on a partially diluted basis, said Pinetree.
As a result of the acquisition, Pinetree held, as at December 3, approximately 15.7% of Knick if warrants are used.
Pinetree's investments are primarily in the resources sector, and include uranium and coal,oil and gas, precious metals, base metals and potash, lithium and western potashs.
