Pinetree Capital Ltd.
TSX : PNP

Pinetree Capital Ltd.

October 15, 2007 17:27 ET

Pinetree Capital Ltd. Grants Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Pinetree Capital Ltd. ("Pinetree" of the "Company") (TSX:PNP) announces today that, in connection with its previously announced private placement, it has granted to Genuity Capital Markets, as lead agent on behalf of a syndicate of agents, including Westwind Partners Inc., an over-allotment option (the "Option") to sell up to an additional 10% of the number of units in the financing. The Option is exercisable at any time prior to the closing of the financing, which is expected to occur on or about October 23, 2007.

If the Option is exercised in full, an aggregate of 13,750,000 units will be sold under the private placement, representing gross proceeds to Pinetree of $72,187,500.

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.

This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. 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 that the financing will not be completed 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, except as required by law.

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