Pinetree Capital Ltd.
TSX : PNP

Pinetree Capital Ltd.

November 14, 2007 10:15 ET

Pinetree Capital Ltd. Acquires Securities of Monroe Minerals Inc.

TORONTO, ONTARIO--(Marketwire - Nov. 14, 2007) - Pinetree Capital Ltd. (TSX:PNP), announces that on November 9, 2007, it acquired ownership of 4,166,666 common shares ("Common Shares") of Monroe Minerals Inc. ("Monroe") and 4,166,666 common share purchase warrants (the "Warrants"). Each Warrant entitles the holder thereof to acquire one additional common share until November 9, 2008, at a price of $0.10, and until November 9, 2009, at a price of $0.12. In the event that the Warrants are fully exercised, these holdings represent approximately 7.2% of the total issued and outstanding common shares of Monroe as of November 9, 2007, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree and its joint actors held, as at November 9, 2007, an aggregate of 6,666,666 common shares of Monroe, including the Common Shares, and convertible securities exercisable into 5,616,666 common shares of Monroe (the "Convertible Securities"), including the Warrants. Of these totals, Pinetree directly holds 6,666,666 common shares and convertible securities exerciseable into 5,416,666 common shares of Monroe (the "Pinetree Convertible Securities"), including the Warrants. If Pinetree and its joint actors were to exercise all of the Convertible Securities, their combined ownership would represent a total of 12,283,332 common shares of Monroe, or approximately 10.5% of such shares outstanding as of November 9, 2007, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. If Pinetree were to exercise all of the Pinetree Convertible Securities, its direct ownership would represent a total of 12,083,332 common shares of Monroe, or approximately 10.4% of such shares outstanding as of November 9, 2007, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.

These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in Monroe 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.

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