Pinetree Capital Ltd.
TSX : PNP

Pinetree Capital Ltd.

November 19, 2007 10:05 ET

Pinetree Capital Ltd. Acquires Securities of New World Resources Corp.

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2007) - Pinetree Capital Ltd. (TSX:PNP), announces that on November 16, 2007, it acquired ownership of 1,000,000 common shares ("Common Shares") of New World Resources Corp. ("New World") and 1,000,000 common share purchase warrants (the "Warrants"). Each Warrant entitles the holder thereof to acquire one additional common share until November 16, 2008, at a price of $0.70. In the event that the Warrants are fully exercised, these holdings represent approximately 10.1% of the total issued and outstanding common shares of New World as of November 16, 2007, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree holds, as at November 16, 2007, 2,835,000 common shares of New World, including the Common Shares and the Warrants. If Pinetree were to exercise all of the Warrants, its ownership would represent a total of 3,835,000 common shares of New World, or approximately 19.4% of such shares outstanding as of November 16, 2007, calculated on a partially diluted basis assuming the exercise of the Warrants only.

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