TORONTO, ONTARIO -- (Marketwire) -- 02/18/11 -- Pinetree Capital Ltd. (TSX: PNP) announces that through a series of transactions ending on February 17, 2011, it acquired ownership of 386,000 common shares ("Common Shares") of Matamec Explorations Inc. ("Matamec") through the facilities of the TSX Venture Exchange, representing approximately 0.3% of the total issued and outstanding common shares of Matamec as of February 17, 2011. As a result of this transaction, Pinetree held, as at February 17, 2011, an aggregate of 11,150,001 common shares of Matamec, including the Common Shares, and rights to acquire an additional 750,000 common shares of Matamec upon exercise of certain convertible securities (the "Convertible Securities"). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 11,900,001 common shares of Matamec, or approximately 10.2% of all issued and outstanding common shares as at February 17, 2011, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Matamec 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: Uranium and Coal, 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 and is recognized as a value added partner in the resource industry.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.
Contacts:
Pinetree Capital Ltd.
Sheldon Inwentash
Chairman & CEO
416-941-9600
Investor Relations: Pinetree Capital Ltd.
Richard Patricio
Vice President, Legal and Corporate Affairs
416-941-9600
ir@pinetreecapital.com
www.pinetreecapital.com
