Pinetree Capital Ltd.
TSX : PNP

Pinetree Capital Ltd.

April 09, 2007 10:06 ET

Pinetree Capital Ltd. Acquires Common Shares of Strategic Metals Ltd.

TORONTO, ONTARIO--(CCNMatthews - April 9, 2007) - Pinetree Capital Ltd. (TSX:PNP), announces that through a series of transactions ending on April 5, 2007, it acquired ownership of 889,000 common shares ("Common Shares") of Strategic Metals Ltd. ("Strategic") through the facilities of the TSX Venture Exchange representing approximately 2.0% of the total issued and outstanding common shares of Strategic as of April 5, 2007. As a result of this transaction, Pinetree holds an aggregate of 5,389,000 common shares and rights to acquire an additional 750,000 common shares upon exercise of certain convertible securities (the "Convertible Securities"), which represents approximately 13.8% of the total issued and outstanding common shares of Strategic as of April 5, 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 Strategic 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, 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.

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