Pinetree Capital Announces Extension of Line of Credit
TORONTO, Canada (April 5, 2010) –
Pinetree Capital Ltd. (TSX: PNP is pleased to announce the extension of the maturity date of its $25 million standby line of credit (the “Line”) to June 30, 2010. The Line is provided by the company’s Chief Executive Officer, Sheldon Inwentash, and bears interest at a rate of 1% per month on draw down amounts, has a standby fee of 0.25% on any unused portion and is secured by the company’s assets. As at April 1, 2010, there is nothing outstanding under the Line.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the
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, 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.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Web Site: www.pinetreecapital.com