Pinetree Capital Ltd. Announces Reconfirmation Of Shareholder Rights Plan
June 1, 2011
TORONTO, Canada (June 1, 2011) Pinetree Capital Ltd. (TSX: PNP), (“Pinetree” or the “Company”) announces that its shareholder rights plan (the “Rights Plan”), which has been in effect since November 2007, was reconfirmed by the Company’s shareholders at its annual and special meeting held yesterday. In accordance with its terms, the Rights Plan must be reconfirmed by shareholders every three years. No amendments have been made to the Rights Plan since its adoption in 2007.
The Rights Plan is intended to provide the Company’s board of directors with adequate time to assess a take-over bid, to consider alternatives to a take-over bid as a means of maximizing shareholder value, to allow competing bids to emerge, and to provide Pinetree’s shareholders with adequate time to properly assess a take-over bid without undue pressure.
The Rights Plan will expire at the end of Pinetree’s annual shareholders’ meeting in 2014, unless it is reconfirmed by shareholders at that meeting. A copy of the Rights Plan is available to the public for viewing on SEDAR at www.sedar.com under the Company’s profile.
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 venture capital firm focused on the small cap market. Pinetree’s investments are primarily in the resources sector: Precious Metals, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal. 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. Pinetree is recognized as a value-added partner in the resource industry.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
|Sheldon Inwentash||Richard Patricio|
|Chairman & CEO||Vice President, Legal and Corporate Affairs|
|Pinetree Capital Ltd.||Pinetree Capital Ltd.|
|130 King Street West, Suite 2500||130 King Street West, Suite 250|
|Toronto, Ontario, Canada, M5X 1A9||Toronto, Ontario, Canada, M5X 1A9|
|Website: www.pinetreecapital.com||Phone: 416-941-9600|