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2018

Pinetree Capital Announces Election Of Directors

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

Toronto, ON, May 28, 2018 – Pinetree Capital Ltd. (TSX: PNP) (“Pinetree”) today announced the results of the election of directors at its annual general meeting held earlier today (the “Meeting”). At the Meeting, all of the nominees listed in Pinetree’s management information circular dated April 13, 2018 were elected as directors of Pinetree. Each director was elected by a majority of the shareholders present in person or by proxy at the Meeting. The results of the shares voted by proxy at the Meeting in respect of the election of each director are set out below:

Nominee Number and Percentage of Shares voted For Number and Percentage of Shares Withheld
Ian P. Howat 4,619,727 (99.65%) 16,189 (0.35%)
Damien Leonard 4,625,734 (99.78%) 10,182 (0.22%)
Craig Miller 4,621,344 (99.69%) 14,572 (0.31%)
Howard Riback 4,617,824 (99.61%) 18,092 (0.39%)
Peter Tolnai 3,977,669 (85.80%) 658,247 (14.20%)

The complete voting results of all matters voted on at the Meeting is available on SEDAR at www.sedar.com.

About Pinetree Capital Ltd.

Pinetree is a diversified investment and merchant banking firm focused on the small cap market, with early stage investments in technology, and resource companies. Pinetree’s common shares are listed on the Toronto Stock Exchange (TSX) under the symbol “PNP”.

For further information:

Damien Leonard
Chief Executive Officer
416-941-9600
ir@pinetreecapital.com
www.pinetreecapital.com

©Copyright 2012 Pinetree Capital Ltd.