Investors

Pinetree Capital Ltd. Acquires Common Shares Of Monster Copper Corp.

TORONTO, Ontario – Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company, announces that it acquired ownership of 500,000 common shares of Monster Copper Corp. (“Monster”), or approximately 2.5% of the common shares of Monster.  As a result of this transaction, Pinetree and its joint actors held, as at January 12, 2006, an aggregate of 2,435,000 common shares of Monster and rights to acquire an aggregate of 550,000 common shares of Monster upon exercise of convertible securities.  If Pinetree and its joint actors were to exercise all of these convertible securities, their combined ownership would represent a total of 2,985,000 common shares of Monster, or approximately 14.6% of such shares outstanding, on a partially diluted basis assuming the exercise of the securities convertible into 550,000 common shares only.

The 500,000 common shares of Monster were acquired in purchases made on the TSX Venture Exchange. 

These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in Monster depending on market conditions or any other relevant factor.

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”.  The Company’s principal business is to fund emerging growth businesses with breakthrough proprietary products.  The Company's interests are primarily in companies with application and platform software technologies, telecommunications and fibre optics technologies, and biomedical technology.  Pinetree also takes advantage of special situations and merchant banking opportunities and makes investments in other public companies in a variety of sectors. 

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 the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. 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.

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Investor Relations Contact for Pinetree Capital Ltd.:

Larry Goldberg, C.A.

Executive Vice President and Chief Financial Officer

Pinetree Capital Ltd. 

Toronto, Ontario, Canada, M5X 1A9

416-941-9600

Email: ir@pinetreecapital.com    Web Site: www.pinetreecapital.com