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News Releases

Pinetree Capital Ltd. Acquires Securities Of Unigold Inc.

TORONTO, Canada (November 4, 2011) Pinetree Capital Ltd. (TSX: PNP), announces that on November 3, 2011, it acquired ownership of 3,000,000 common shares (“Common Shares”) of Unigold Inc. (“Unigold”) representing approximately 2.0% of the total issued and outstanding common shares of Unigold as of November 3, 2011.  As a result of this transaction, Pinetree and its joint actors collectively held, as at November 3, 2011, an aggregate of 15,276,500 common shares of Unigold, including the Common Shares, and rights to acquire an additional 1,500,000 common shares of Unigold upon exercise of certain convertible securities (the “Convertible Securities”).  Of these totals, Pinetree owns 13,821,500 common shares, including the Common Shares, and the 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 16,776,500 common shares of Unigold, or approximately 11.1% of all issued and outstanding common shares as at November 3, 2011, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Convertible Securities are fully exercised, the direct holdings of Pinetree represents a total of 15,321,500 common shares of Unigold, or approximately 10.2% of all issued and outstanding common shares as at November 3, 2011, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

This transaction was made for investment purposes and Pinetree, or its joint actors, could increase or decrease its/their investment in Unigold 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: Precious Metals, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal.  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. Pinetree is recognized as a value-added partner in the resource industry. 

  Investor Relations:
Sheldon Inwentash Richard Patricio
Chairman & CEO Vice President, Legal and Corporate Affairs
Pinetree Capital Ltd. Pinetree Capital Ltd.
130 King Street West, Suite 2500 130 King Street West, Suite 250
Toronto, Ontario, Canada,  M5X 1A9 Toronto, Ontario, Canada, M5X 1A9
Website: www.pinetreecapital.com Phone: 416-941-9600
  Email: ir@pinetreecapital.com
  Website: www.pinetreecapital.com
©Copyright 2012 Pinetree Capital Ltd.