Pinetree Capital Ltd. Acquires Securities of REBgold Corporation

TORONTO, ONTARIO--(Marketwire - March 21, 2011) - Pinetree Capital Ltd. (TSX:PNP), announces that in a private transaction which closed March 16, 2011, it acquired ownership of 3,250,000 warrants of REBgold Corporation ("REBgold") (the "April 2 Warrants" exercisable at a price of $0.10 and expiring April 2, 2011) and 3,750,000 warrants of REBgold (the "April 14 Warrants" exercisable at a price of $0.10 and expiring April 14, 2011). In the event that the April 2 Warrants and April 14 Warrants are fully exercised, these holdings would represent approximately 4.7% of the total issued and outstanding common shares of REBgold as of March 16, 2011. As a result of this transaction, Pinetree and its joint actors collectively held, as at March 16, 2011, an aggregate of 14,520,500 common shares of REBgold and rights to acquire an additional 12,850,500 common shares of REBgold upon exercise of certain convertible securities (the "Convertible Securities"), including the April 2 Warrants and the April 14 Warrants. Of these totals, Pinetree owns 11,000,500 common shares and 11,850,000 of the Convertible Securities (the "Pinetree Convertible Securities") directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 27,370,500 common shares of REBgold, or approximately 17.9% of all issued and outstanding common shares as at March 16, 2011, 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 22,850,500 common shares of REBgold, or approximately 15.0% of all issued and outstanding common shares as at March 16, 2011, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.

This transaction was made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in REBgold 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: Uranium and Coal, Oil & Gas, Precious Metals, Base Metals and Potash, Lithium and Rare Earths. 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 and is recognized as a value added partner in the resource industry.

For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.