Pinetree Capital Ltd.

Pinetree Capital Ltd.

December 12, 2007 15:12 ET

Pinetree Capital Ltd. Acquires Common Shares of Magnum Uranium Corp.

TORONTO, ONTARIO--(Marketwire - Dec. 12, 2007) - Pinetree Capital Ltd. (TSX:PNP), announces that, through a series of transactions ending on December 10, 2007, it acquired ownership of 615,000 common shares ("Common Shares") of Magnum Uranium Corp. ("Magnum") through the facilities of the TSX Venture Exchange representing approximately 2.2% of the total issued and outstanding common shares of Magnum as of December 10, 2007. As a result of this transaction, Pinetree held as at December 10, 2007, an aggregate of 2,814,285 common shares of Magnum including the Common Shares and rights to acquire an additional 357,142 common shares of Magnum (the "Convertible Securities"), which represents approximately 11.1% of all issued and outstanding common shares as at December 10, 2007, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Magnum 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

Contact Information

  • Investor Relations:
    Pinetree Capital Ltd.
    Larry Goldberg, C.A.
    Executive Vice President and Chief Financial Officer
    (416) 941-9600
    Media Relations:
    Pinetree Capital Ltd.
    Wanda Cutler
    Director of Corporate Communications
    (416) 860-1717