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Press release from Marketwire

Pinetree Capital Announces Extension of Line of Credit

Friday, December 23, 2011

Pinetree Capital Announces Extension of Line of Credit12:44 EST Friday, December 23, 2011TORONTO, CANADA--(Marketwire - Dec. 23, 2011) -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 PinetreePinetree 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 FURTHER INFORMATION PLEASE CONTACT: Sheldon InwentashPinetree Capital Ltd.Chairman & CEO416-941-9600ORRichard PatricioInvestor Relations: Pinetree Capital Ltd.Vice President, Legal and Corporate