Pinetree Capital Ltd.
TSX : PNP

Pinetree Capital Ltd.

September 24, 2007 16:00 ET

Pinetree Capital Normal Course Issuer Bid Approved

TORONTO, ONTARIO--(Marketwire - Sept. 24, 2007) - Pinetree Capital Ltd. ("Pinetree") (TSX:PNP), a Canadian investment company, announces that its previously announced normal course issuer bid (the "Bid") has been approved by the Toronto Stock Exchange ("TSX"). Under the terms of the Bid, Pinetree may purchase up to 4,500,000 of its common shares, representing approximately 4.5% of the common shares outstanding as at September 19, 2007.

The Bid will commence on September 26, 2007 and end on September 25, 2008. Purchases of common shares under the Bid will be made at market prices and otherwise in accordance with the rules of the TSX. Daily purchases of common shares will not exceed 201,477 common shares. All common shares purchased under the Bid will be cancelled.

Pinetree believes that, at current market prices (and at certain times throughout the duration of the Bid), the purchase of its common shares will contribute to enhancing shareholder value.

Pinetree has not purchased any of its common shares during the previous twelve months.

About Pinetree

Pinetree Capital Ltd. ("Pinetree" or the "Company") was incorporated under the laws of the Province of Ontario and is publicly traded on the Toronto Stock Exchange ("TSX") under the symbol "PNP" and is included in the Standard & Poor's/Toronto Stock Exchange composite index. Pinetree is a diversified investment and merchant banking firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Uranium, Oil & Gas, Molybdenum, Precious Metals and Base Metals. Pinetree's investment approach is to build a macro position in a sector, find the micro-cap opportunities in that sector and work with those companies to build them to commercial production and create an exit.

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

This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Pinetree's results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Pinetree disclaims any intent or obligation to update these forward-looking statements, except as required by law.

Contact Information

  • Investor Relations:
    Pinetree Capital Ltd.
    Larry Goldberg, C.A.
    Executive Vice President and Chief Financial Officer
    (416) 941-9600 (FAX)
    Email: ir@pinetreecapital.com
    or
    Media Relations:
    Pinetree Capital Ltd.
    Wanda Cutler
    Director of Corporate Communications
    (416) 860-1717 (FAX)
    Website: www.pinetreecapital.com