Pinetree Capital Ltd.

Pinetree Capital Ltd.

August 18, 2010 11:14 ET

Pinetree Capital Ltd. Acquires Securities of Greencastle Resources Ltd.

TORONTO, ONTARIO--(Marketwire - Aug. 18, 2010) - Pinetree Capital Ltd. (TSX:PNP), announces that through a series of transactions ending on August 16, 2010, Pinetree acquired ownership of 27,500 common shares ("Common Shares") of Greencastle Resources Ltd. ("Greencastle") through the facilities of the TSX Venture Exchange representing approximately 0.1% of the total issued and outstanding common shares of Greencastle as of August 16, 2010. As a result of this transaction, Pinetree held, as at August 16, 2010, an aggregate of 4,500,000 common shares of Greencastle, including the Common Shares, or approximately 10.1% of all issued and outstanding common shares as at August 16, 2010.

These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Greencastle 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 and Coal, 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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