Pinetree Capital Ltd. Provides Update of Its Beneficial Ownership of Common Shares of Latin American Minerals Inc.

TORONTO, ONTARIO--(Marketwired - Sept. 20, 2016) - Pinetree Capital Ltd. (TSX:PNP) ("Pinetree") today announced an update in respect of its beneficial ownership of common shares of Latin American Minerals Inc. ("Latin American").

As of the date hereof, Pinetree continues to beneficially own 6,820,000 common shares of Latin American, comprised of 4,820,000 common shares and 2,000,000 exercisable common share purchase warrants ("Warrants"). However, as a result of certain equity issuances by Latin American in which Pinetree did not participate, Pinetree's ownership interest in Latin American has been diluted and, assuming the exercise in full of the Warrants held by Pinetree, it currently beneficially owns approximately 9.9% of the issued and outstanding common shares of Latin American.

In the future, Pinetree may from time to time acquire or dispose ownership of, or control or direction over, securities of Latin American for investment purposes.

This news release is being issued under the early warning reporting provisions of applicable securities laws. These documents are being voluntarily filed to show that, as a result of certain equity issuances by Latin American, Pinetree has ceased to beneficially own, or have control or direction over, 10% or more of the issued and outstanding common shares of Latin American. Pinetree's ownership of common shares of Latin American is now below the reporting threshold prescribed by applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR profile of Latin American at www.sedar.com. To obtain a copy of the early warning report, you may also contact Peter Tolnai, the Chief Executive Officer of Pinetree, at 416-941-9600.

About Pinetree

Pinetree is a diversified investment and merchant banking firm focused on the small cap market, with early stage investments in resource, biotechnology and technology companies. Pinetree's shares are listed on the Toronto Stock Exchange under the symbol "PNP".