Pinetree Capital Ltd.
TSX : PNP

Pinetree Capital Ltd.

November 02, 2007 14:27 ET

Pinetree Capital Ltd. Acquires Common Shares of Northern Lion Gold Corp.

TORONTO, ONTARIO--(Marketwire - Nov. 2, 2007) - Pinetree Capital Ltd. (TSX:PNP), announces that, through a series of transactions ending on November 2, 2007, it acquired ownership of 223,500 common shares ("Common Shares") of Northern Lion Gold Corp. ("Northern Lion") through the facilities of the TSX Venture Exchange representing approximately 0.7% of the total issued and outstanding common shares of Northern Lion as of November 2, 2007. As a result of this transaction, Pinetree held as at November 2, 2007, an aggregate of 3,223,500 common shares of Northern Lion including the Common Shares which represents approximately 10.3% of all issued and outstanding common shares as at November 2, 2007.

These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Northern Lion depending on market conditions or any other relevant factor.

About Pinetree

Pinetree Capital Ltd. ("Pinetree" or the "Company") was incorporated under the laws of the Province of Ontario and is publicly traded on the Toronto Stock Exchange ("TSX") under the symbol "PNP". Pinetree is a diversified investment and merchant banking firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Uranium, Oil & Gas, Molybdenum, Precious Metals and Base Metals. Pinetree's investment approach is to build a macro position in a sector, find the micro-cap opportunities in that sector and work with those companies to build them to commercial production and create an exit.

For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.

This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Pinetree's results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Pinetree disclaims any intent or obligation to update these forward-looking statements.

Contact Information

  • Investor Relations: Pinetree Capital Ltd.
    Larry Goldberg, C.A.
    Executive Vice President and Chief Financial Officer
    (416) 941-9600
    Email: ir@pinetreecapital.com
    or
    Media Relations: Pinetree Capital Ltd.
    Wanda Cutler
    Director of Corporate Communications
    (416) 860-1717
    Website: www.pinetreecapital.com