Pinetree Capital Ltd. Acquires Securities of AirIQ Inc.

TORONTO, ONTARIO--(Marketwire - Oct. 28, 2011) - Pinetree Capital Ltd. (TSX:PNP), announces that on October 27, 2011, it acquired ownership of 732,000 common shares ("Common Shares") of AirIQ Inc. ("AirIQ") through the facilities of the TSX Venture Exchange, representing approximately 4.6% of the total issued and outstanding common shares of AirIQ as of October 27, 2011. As a result of this transaction, Pinetree held, as at October 27, 2011, an aggregate of 2,696,395 common shares of AirIQ, including the Common Shares, representing approximately 17.0% of all issued and outstanding common shares as at October 27, 2011.

This transaction was made for investment purposes and Pinetree could increase or decrease its investment in AirIQ depending on market conditions or any other relevant factor.

About Pinetree

Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the Province of Ontario and its shares are publicly-traded on the Toronto Stock Exchange ("TSX") under the symbol "PNP". Pinetree is a diversified investment and venture capital firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Precious Metals, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal. Pinetree's investment approach is to develop a macro view of a sector, build a position consistent with the view by identifying micro-cap opportunities within that sector, and devise an exit strategy designed to maximize our relative return in light of changing fundamentals and opportunities. Pinetree is recognized as a value-added partner in the resource industry.