Pinetree Capital Ltd.

Pinetree Capital Ltd.

January 19, 2010 11:21 ET

Pinetree Capital Ltd. Acquires Securities of Acero-Martin Exploration Inc.

TORONTO, ONTARIO--(Marketwire - Jan. 19, 2010) - Pinetree Capital Ltd. (TSX:PNP), announces that on January 14, 2010, it acquired ownership of 1,000,000 common shares ("Common Shares") and 500,000 common share purchase warrants (the "Warrants") of Acero-Martin Exploration Inc. ("Acero-Martin"). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.275 until July 14, 2011. In the event that the Warrants are fully exercised, these holdings represent approximately 4.7% of the total issued and outstanding common shares of Acero-Martin as of January 14, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree held, as at January 14, 2010, an aggregate of 3,000,000 common shares of Acero-Martin and rights to acquire an additional 1,062,500 common shares of Acero-Martin upon the exercise of convertible securities (the "Convertible Securities"), including the Warrants, representing a total of 4,062,500 common shares of Acero-Martin, or approximately 12.5% of such shares outstanding as of January 14, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities.

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

About Pinetree

Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the Province of Ontario and its shares are 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, Precious Metals, Base Metals and Potash, Lithium and Rare Earths. Pinetree's investment approach is to develop a macro view of a sector, build a position consistent with the view by identifying micro-cap opportunities within that sector, and devise an exit strategy designed to maximize our relative return in light of changing fundamentals and opportunities.

For more details about Pinetree and its investments, please visit our website at

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