TORONTO, CANADA — (Marketwire) — 12/23/11 — Pinetree Capital Ltd. (TSX: PNP) announces the extension of the maturity date of its $25 million standby line of credit (the “Line”) to December 31, 2012. 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. Currently, no amount is outstanding under the Line.
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.
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