Pinetree Capital Ltd. acquired a $1,000,000 debenture in Nearctic Nickel Mines Inc., convertible into approximately 30.3% of Nearctic's shares, reflecting a strategic investment in the growing nickel industry in Canada.

Target Information

Pinetree Capital Ltd. announced its acquisition of a $1,000,000 debenture in Nearctic Nickel Mines Inc. on August 29, 2008. This debenture is convertible into 2,500,000 units at a price of $0.40 per unit, with each unit consisting of one common share and one common share purchase warrant. The warrants can be exercised for one common share at a price of $0.75 for five years. Upon full conversion of the debenture and exercise of the warrants, Pinetree would hold 5,000,000 common shares, amounting to approximately 16.2% of Nearctic's total outstanding shares as of that date.

Additionally, when factoring in the total shareholdings of Pinetree and its joint actors, which include 3,649,800 common shares alongside the convertible debenture, the combined ownership could rise to approximately 30.3% of Nearctic’s common shares, contingent upon full exercise of the Pinetree Convertible Securities.

Industry Overview in Canada

The nickel mining industry in Canada has been resilient, benefiting from a growing demand for nickel, particularly for electric vehicle batteries and stainless steel production. Canada is rich in mineral resources, and nickel