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News Releases

Pinetree Capital Ltd. Acquires Securities Of Mega Moly Inc.


September 2, 2008

TORONTO, Canada (September 2, 2008) Pinetree Capital Ltd. (TSX: PNP), announces that on September 2, 2008, it acquired ownership of 14,500,000 common shares (“Common Shares”) of Mega Moly Inc. (“Mega Moly”), or approximately 20.9% of the total issued and outstanding common shares of Mega Moly as of September 2, 2008.  As a result of this transaction, Pinetree and its joint actors held, as at September 2, 2008, an aggregate of 25,507,500 common shares of Mega Moly and convertible securities exercisable into 11,000,000 common shares of Mega Moly (the “Convertible Securities”), including the 10,000,000 convertible securities held directly by Pinetree (the “Pinetree Convertible Securities”).  Of these totals, Pinetree holds 24,507,500 common shares, including the Common Shares and the Pinetree Convertible Securities directly.  If Pinetree and its joint actors were to exercise all of the Convertible Securities, their combined ownership would represent a total of 36,507,500 common shares of Mega Moly, or approximately 45.5% of such shares outstanding as of September 2, 2008, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.  If Pinetree were to exercise all of the Pinetree Convertible Securities, its ownership would represent a total of 34,507,500 common shares of Mega Moly, or approximately 43.5% of such shares outstanding as of September 2, 2008, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only. 

These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in Mega Moly 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 merchant banking firm focused on the small cap market.  Pinetree’s investments are primarily in the resources sector: Uranium, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals.  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

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.