Pinetree Capital Announces Renewal of Normal Course Issuer Bid
August 19 2011 - 9:55AM
Marketwired
Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company,
announces its intention to renew its normal course issuer bid (the
"Bid") to purchase up to 5,000,000 of its common shares
(representing approximately 3.7% of the 136,547,273 common shares
outstanding as at August 15, 2011), through the facilities of the
Toronto Stock Exchange (the "TSX") and on other published markets.
The Bid is subject to acceptance by the TSX.
The Bid will commence on September 1, 2011 and end on August 31,
2012. Purchases of common shares under the Bid will be made at
market prices and otherwise in accordance with the rules of the
TSX. All common shares purchased under the Bid will be
cancelled.
Pinetree believes that recent trading prices of its shares are
not, and prices from time to time throughout the duration of the
Bid may not be, fully reflective of the company's underlying value.
Depending upon future price movements and other factors, the
purchase of its shares under the Bid may represent an attractive
investment for the company and a desirable use of funds to
contribute to enhancing shareholder value.
Pinetree has not purchased any of its common shares during the
previous twelve months.
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.
For more details about Pinetree and its investments, please
visit our website at http://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
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