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News Releases

Pinetree Capital Ltd. Announces Private Placement


March 27, 2006

Toronto, Ontario – Pinetree Capital Ltd. (TSX: PNP) (“Pinetree” or the “Company”) is pleased to announce that it has entered into an agreement with Genuity Capital Markets as lead agent on behalf of a syndicate of agents, including Westwind Partners Inc., Canaccord Adams and Kingsdale Capital Markets Inc. (collectively, the “Agents”) to complete a best efforts private placement financing to sell a minimum of 1,500,000 units and a maximum of 5,000,000 units of Pinetree at a price of $24.26 per unit (a “Unit”).  Each Unit will be comprised of one common share of Pinetree and one-half of one common share purchase warrant.  Each whole common share purchase warrant will entitle the holder to acquire one common share of Pinetree, for a period of 5 years following the closing of the financing, at an exercise price of $30.00 per common share. 

It is anticipated that the net proceeds of the private placement will be used by Pinetree for future investment activities, to repay certain indebtedness and for general corporate purposes.

For their services, the Agents will receive cash commission equal to 5.5% of the gross proceeds raised in this private placement and compensation warrants (the “Compensation Warrants”) entitling the Agents to purchase such number of common shares equal to 5.5% of the aggregate number of Units sold pursuant to the private placement.  Each Compensation Warrant will entitle the Agents to purchase one common share of the Company at a price of $24.26 per common share for a period of 24 months following the closing

Completion of the private placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX. The units will be sold pursuant to exemptions from the prospectus requirements to purchasers in all of the provinces of Canada and offshore including in the United Kingdom pursuant to applicable exemptions. 

Up to 10% of the units may be purchased by insiders of Pinetree.

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” and is included in the Standard & Poor's/Toronto Stock Exchange composite index.  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, 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.

This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Pinetree’s results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Pinetree disclaims any intent or obligation to update these forward-looking statements.

Investor Relations Contact for Pinetree Capital Ltd.:

Larry Goldberg, C.A.

Executive Vice President and Chief Financial Officer

Pinetree Capital Ltd. 

130 King Street West, Suite 2810

Toronto, Ontario, Canada, M5X 1A9

416-941-9600

Email: ir@pinetreecapital.com    Web Site: www.pinetreecapital.com

©Copyright 2012 Pinetree Capital Ltd.