Pinetree Capital Announces TSX Approval Of Normal Course Issuer Bid
August 30, 2010
TORONTO, Canada (August 30, 2010) – Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company, announces that it has received the approval of the Toronto Stock Exchange (the “TSX”) in respect of its previously announced normal course issuer bid (the “Bid”) to purchase, through the facilities of the TSX and on other published markets, up to 5,000,000 of its common shares, representing approximately 3.7% of the 135,709,653 common shares outstanding as at August 27, 2010.
The Bid will commence on September 1, 2010 and end on August 31, 2011. Purchases of common shares under the Bid will be made at market prices and otherwise in accordance with the rules of the TSX. All common shares purchased under the Bid will be cancelled.
Pinetree believes that recent trading prices of its shares are not, and prices from time to time throughout the duration of the Bid may not be, fully reflective of the company’s underlying value. Depending upon future price movements and other factors, the purchase of its shares under the Bid may represent an attractive investment for the company and a desirable use of funds to contribute to enhancing shareholder value.
Pinetree has not purchased any of its common shares during the previous twelve months.
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 and Coal, 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.
Vice President, Legal and Corporate Affairs
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Web Site: http://www.pinetreecapital.com