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2011

Pinetree Capital Ltd. Acquires Securities Of International Northair Mines Ltd.


April 6, 2011

TORONTO, Canada (April 6, 2011) Pinetree Capital Ltd. (TSX: PNP), announces that through a series of transactions ending on April 4, 2011, it acquired ownership of 1,500,000 common shares (“Common Shares”) of International Northair Mines Ltd. (“International Northair”) representing approximately 2.1% of the total issued and outstanding common shares of International Northair as of April 4, 2011.  As a result of this transaction, Pinetree and its joint actors collectively held, as at April 4, 2011, an aggregate of 6,500,000 common shares of International Northair, including the Common Shares and rights to acquire an additional 3,000,000 common shares of International Northair upon exercise of certain convertible securities (the “Convertible Securities”).  Of these totals, Pinetree owns 3,500,000 common shares, including the Common Shares and 1,000,000 of the Convertible Securities (the “Pinetree Convertible Securities”) directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 9,500,000 common shares of International Northair, or approximately 12.9% of all issued and outstanding common shares as at April 4, 2011, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Pinetree Convertible Securities are fully exercised, the direct holdings of Pinetree represents a total of 4,500,000 common shares of International Northair, or approximately 6.3% of all issued and outstanding common shares as at April 4, 2011, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.

This transaction was made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in International Northair depending on market conditions or any other relevant factor.

About Pinetree
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: 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 and 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
Chairman & CEO
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Website: www.pinetreecapital.com

Investor Relations:
Richard Patricio
Vice President, Legal and Corporate Affairs
Pinetree Capital Ltd.
130 King Street West, Suite 250
Toronto, Ontario, Canada, M5X 1A9
Phone: 416-941-9600
Email: ir@pinetreecapital.com
Website: www.pinetreecapital.com
©Copyright 2012 Pinetree Capital Ltd.