Pinetree Capital Ltd.
TSX : PNP

Pinetree Capital Ltd.

June 04, 2007 10:42 ET

Pinetree Capital Ltd. Acquires Securities of Pacific North West Capital Corp.

TORONTO, ONTARIO--(Marketwire - June 4, 2007) - Pinetree Capital Ltd. (TSX:PNP), announces that on May 31, 2007 it acquired ownership of 3,300,000 common shares ("Common Shares") of Pacific North West Capital Corp. ("Pacific North West"), and 1,650,000 share purchase warrants (each, a "Warrant") (each Warrant entitling the holder thereof to acquire one additional common share at an exercise price of $0.60 until Nov 31, 2009). In the event that the Warrants are fully exercised, these holdings represent approximately 9.9% of the total issued and outstanding common shares of Pacific North West as of May 31, 2007, calculated on a partially diluted basis assuming the exercise of Warrants only. Immediately following the acquisition, Pinetree owns an aggregate of 3,800,000 common shares of Pacific North West and the Warrants. In the event that the Warrants are fully exercised, the direct holdings of Pinetree represent a total of 5,450,000 common shares of Pacific North West, or approximately 10.8% of all issued and outstanding common shares as at May 31, 2007, calculated on a partially diluted basis assuming the exercise of the Warrants only.

These transactions were made for investment purposes and Pinetree can increase or decrease its investments in Pacific North West 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" and is included in the Standard & Poor's/Toronto Stock Exchange composite index. 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