PINETREE CAPITAL LTD. ACQUIRES SECURITIES OF BROWNSTONE VENTURES INC.
TORONTO, Canada (April 14, 2010) Pinetree Capital Ltd. (TSX: PNP), announces that on April 13, 2010, it acquired ownership of 2,738,220 common shares (�Common Shares�) and 1,369,110 common share purchase warrants (the �Warrants�) of Brownstone Ventures Inc. (�Brownstone�). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.75 until April 13, 2012. In the event that the Warrants are fully exercised, these holdings represent approximately 4.7% of the total issued and outstanding common shares of Brownstone as of April 13, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree and its joint actors collectively held, as at April 13, 2010, an aggregate of 13,088,495 common shares of Brownstone, including the Common Shares, and rights to acquire an additional 5,124,110 common shares of Brownstone upon exercise of certain convertible securities, including the Warrants (the �Convertible Securities�). Of these totals, Pinetree owns 10,385,220 common shares, including the Common Shares, and 1,869,110 of the Convertible Securities, including the Warrants (the �Pinetree Convertible Securities�), directly. In the event that the Convertible Securities are fully exercised, the holdings of Pinetree and its joint actors represents a total of 18,212,605 common shares of Brownstone, or approximately 20.1% of all issued and outstanding common shares as at April 13, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Pinetree Convertible Securities are fully exercised, the direct holdings of Pinetree represents a total of 12,254,330 common shares of Brownstone, or approximately 14.0% of all issued and outstanding common shares as at April 13, 2010, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.
These transactions were made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in Brownstone 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 resources sector: Uranium, 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.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
Investor Relations:
Larry Goldberg, C.A.
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 1A9
Phone: 416-941-9600
Email: ir@pinetreecapital.com
Web Site: www.pinetreecapital.com