Pinetree Capital Ltd. Acquires Securities Of MBMI Resources Inc.
December 9, 2009
TORONTO, Canada – Pinetree Capital Ltd. (TSX: PNP), announces that through a series of purchases on the TSX Venture Exchange ending December 7, 2009, it acquired ownership of 500,000 common shares (the “Common Shares”), of MBMI Resources Inc. (“MBMI”), or approximately 0.5% of the total issued and outstanding common shares of MBMI as of December 7, 2009. As a result of this transaction, Pinetree held, as at December 8, 2009, an aggregate of 8,117,074 common shares of MBMI, including the Common Shares, and convertible securities exercisable into an additional 2,500,000 common shares of MBMI (the “Convertible Securities”). If Pinetree were to exercise all of the Convertible Securities, its ownership would represent a total of 10,617,074 common shares of MBMI, or approximately 10.2% of such shares outstanding as of December 8, 2009, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
These transactions were made for investment purposes and Pinetree could increase or decrease investments in MBMI depending on market conditions or any other relevant factor.
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 merchant banking firm focused on the small cap market. Pinetree’s investments are primarily in the resources sector: Uranium, Oil & Gas, Precious Metals, Base Metals 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.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
Larry Goldberg, C.A.
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Web Site: www.pinetreecapital.com