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News Releases

Pinetree Capital Ltd. Acquires Common Shares Of Monroe Minerals Inc.


February 29, 2008

TORONTO, Canada (February 29, 2008) Pinetree Capital Ltd. (TSX: PNP), announces that, through a series of transactions ending on February 28, 2008, it acquired ownership of 675,000 common shares (“Common Shares”) of Monroe Minerals Inc. (“Monroe”) through the facilities of the TSX Venture Exchange representing approximately 0.6% of the total issued and outstanding common shares of Monroe as of February 28, 2008.  As a result of this transaction, Pinetree and its joint actors collectively held, as at February 28, 2008, an aggregate of 7,341,666 common shares of Monroe, including the Common Shares and rights to acquire an additional 5,616,666 common shares of Monroe upon the exercise of convertible securities (collectively, the “Convertible Securities”).  Of these totals, Pinetree owns the entire 7,341,666 common shares, including the Common Shares, directly and rights convertible into an additional 5,416,666 common shares of Monroe upon exercise of 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 12,958,332 common shares of Monroe, or approximately 10.1% of all issued and outstanding common shares as at February 28, 2008, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.  In the event that only the Pinetree Convertible Securities are fully exercised, Pinetree’s direct holdings would represent 12,758,332 common shares of Monroe or approximately 10.0% of all issued and outstanding common shares of Monroe as of February 28, 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 Monroe depending on market conditions or any other relevant factor.

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”.  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 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

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.