Pinetree Capital Announces Partial Closing of Private Placement

TORONTO, ONTARIO--(Marketwired - May 26, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Pinetree Capital Ltd. (TSX:PNP) announces the partial closing today of its previously announced non-brokered private placement (the "Financing"), pursuant to which Pinetree raised aggregate gross proceeds of $8,500,000 from the issuance and sale of 18,888,889 units, at a price of $0.45 per unit. The company expects the remaining portion of the Financing, representing gross proceeds of $2,000,000, to be completed within the next few days.

Each Unit was comprised of one common share and one-half of one common share purchase warrant of Pinetree. Each whole warrant entitles the holder to purchase one common share of the company, at a price of $0.75, until expiry on May 26 2017, provided that, if the weighted-average trading price of the company's common shares on the Toronto Stock Exchange is $1.25 or more for any period of twenty consecutive trading days commencing after September 26, 2014, Pinetree may accelerate the expiry date of the warrants upon at least 30 days' notice to the holders.

The proceeds of the Financing will be used for working capital purposes, which may include the purchase for cancellation of a portion of the company's outstanding convertible debentures.

Officers and directors of Pinetree (and their associates) purchased an aggregate of 3,933,333 units under the Financing, representing approximately 21% of the total number of units sold today and 17% of the total number of units anticipated to be sold upon completion of the entire Financing.

Pinetree paid finders' fees in the form of an aggregate of 976,001 units to third parties who assisted the company in the Financing. The units have the same terms and conditions as the units sold in the Financing.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 following sectors: Precious Metals, Uranium and Technology. 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.