Pinetree Capital Ltd. Acquires Securities of Goldspike Exploration Inc.

TORONTO, CANADA--(Marketwired - Nov. 20, 2014) - Pinetree Capital Ltd. (TSX:PNP), announces that through a series of transactions that ending on November 19, 2014, it acquired ownership of 280,000 common shares ("Common Shares") of Goldspike Exploration Inc. ("Goldspike") through the facilities of the TSX Venture Exchange representing approximately 0.5% of the total issued and outstanding common shares of Goldspike as of November 19, 2014. As a result of this transaction, Pinetree and its joint actors collectively held, as at November 19, 2014, an aggregate of 7,680,000 common shares of Goldspike, including the Common Shares, and rights to acquire an additional 2,650,000 common shares of Goldspike upon exercise of certain convertible securities (the "Convertible Securities"). Of these totals, Pinetree owns 1,780,000 common shares, including the Common Shares, and 750,000 of the Convertible Securities directly (the "Pinetree Convertible Securities"). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 10,330,000 common shares of Goldspike, or approximately 18.4% of all issued and outstanding common shares as at November 19, 2014, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Pinetree Convertible Securities are fully exercised, the direct holdings of Pinetree represents a total of 2,530,000 common shares of Goldspike, or approximately 4.7% of all issued and outstanding common shares as at November 19, 2014, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

These transactions were made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in Goldspike 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 Precious Metals, Uranium and Technology sectors. 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.