Pinetree Capital Ltd.
TSX : PNP

Pinetree Capital Ltd.

April 21, 2011 08:17 ET

Pinetree Capital Ltd. Upsizes Convertible Debenture Financing to $75 Million

TORONTO, ONTARIO--(Marketwire - April 21, 2011) -

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Pinetree Capital Ltd. (TSX:PNP) ("Pinetree") is pleased to announce that it has increased the size of its previously announced private placement of convertible debentures (the "Offering") to an aggregate principal amount of $75 million. The other terms of the Offering remain as disclosed in Pinetree's press release dated April 20, 2011.

Closing of the Offering is anticipated to occur on or about May 17, 2011 (the "Closing Date") and is subject to certain customary conditions and regulatory approvals, including approval of the TSX.

The Offering is being conducted on Pinetree's behalf by a syndicate of agents co-led by Dundee Securities Ltd. and GMP Securities L.P., and including Acumen Capital Finance Partners Ltd., Fraser Mackenzie Limited, and M Partners Inc. In connection with this Offering, Pinetree has agreed to pay to the agents a cash commission equal to 5% of the gross proceeds raised.

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, Uranium and Coal, Base Metals, Oil and Gas, 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.

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