PNP Pinetree Capital Ltd

Pinetree Capital Ltd. Acquires Securities of Spectra7 Microsystems Inc.

TORONTO, CANADA--(Marketwired - Mar 28, 2014) - Pinetree Capital Ltd. (TSX:PNP), announces that on March 28, 2014, it acquired ownership of 5,000,000 common shares ("Common Shares") and 5,000,000 common share purchase warrants (the "Warrants") of Spectra7 Microsystems Inc. ("Spectra7") representing approximately 12.3% of the total issued and outstanding common shares of Spectra7 as of March 28, 2014. As a result of this transaction, Pinetree and its joint actors collectively held, as at March 28, 2014, an aggregate of 6,500,000 common shares of Spectra7, including the Common Shares, and rights to acquire an additional 6,500,000 common shares of Spectra7 upon the exercise of convertible securities (the "Convertible Securities"). Of these totals, Pinetree owns only the Common Shares and the Warrants directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 13,000,000 common shares of Spectra7 or approximately 15.7% of all issued and outstanding common shares as at March 28, 2014, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

These transactions were made for investment purposes and Pinetree and its joint actors could increase or decrease their investment in Spectra7 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 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.

Pinetree Capital Ltd.Sheldon Inwentash, CPA, CA.Chairman & CEO416-643-3884Pinetree Capital Ltd.Gerry Feldman, CPA, CA.CFO & Vice President, Corporate Development416-643-3884feldman@pinetreecapital.comInvestor Relations:Pinetree Capital Ltd.Richard Patricio, LL.B.Vice President, Legal and Corporate Affairs416-941-9600ir@pinetreecapital.comPinetree Capital Ltd.130 King Street West, Suite 2500Toronto, Ontario, Canada, M5X 2A2www.pinetreecapital.com