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2008

Pinetree Capital Ltd. Acquires Securities Of Fiber Optic Systems Technology, Inc.


March 6, 2008

TORONTO, Ontario (March 6, 2008) – Pinetree Capital Ltd. (TSX: PNP), announces that on March 5, 2008, it acquired ownership of 3,500,000 common shares (“Common Shares”) of Fiber Optic Systems Technology, Inc. (“FOX-TEK”) and 1,750,000 common share purchase warrants (the “Warrants”).  Each Warrant entitles the holder thereof to acquire one additional common share until March 5, 2010, at a price of $0.50.   In the event that the Warrants are fully exercised, these holdings represent approximately 10.4% of the total issued and outstanding common shares of FOX-TEK as of March 5, 2008, calculated on a partially diluted basis assuming the exercise of the Warrants only.  As a result of this transaction, Pinetree and its joint actors collectively held, as at March 5, 2008, an aggregate of 7,719,845 common shares of FOX-TEK and rights to acquire an additional 3,377,678 common shares of FOX-TEK upon the exercise of convertible securities (collectively, the “Convertible Securities”), including the Warrants.  Of these totals, Pinetree owns an aggregate of 7,036,612 common shares, including the Common Shares, and the Warrants directly.  In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 11,097,523 common shares of FOX-TEK, or approximately 21.3% of all issued and outstanding common shares as at March 5, 2008, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.  In the event that only the Warrants are fully exercised, Pinetree’s direct holdings would represent 8,786,612 or approximately 17.4% of all issued and outstanding common shares of FOX-TEK as of March 5, 2008, calculated on a partially diluted basis assuming the exercise of the Warrants only. 

These transactions were made for investment purposes and Pinetree could increase or decrease its investment in FOX-TEK 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”.  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, Molybdenum, Precious Metals and Base Metals.  Pinetree’s investment approach is to build a macro position in a sector, find the micro-cap opportunities in that sector and work with those companies to build them to commercial production and create an exit.

For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com

Investor Relations:
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
Phone: 416-941-9600
Email: ir@pinetreecapital.com
Web Site: www.pinetreecapital.com

©Copyright 2012 Pinetree Capital Ltd.