TSX: PNP     Last: 4.95     Change: 0.06
TSX: PNP     Last: 4.95     Change: 0.06

Pinetree Capital Ltd. Acquires Securities Of Rockgate Capital Corp.

April 2, 2008

TORONTO, Ontario (April 2, 2008) – Pinetree Capital Ltd. (TSX: PNP), announces that on March 27, 2008, it acquired ownership of 1,000,000 common shares (“Common Shares”) of Rockgate Capital Corp. (“Rockgate”) and 500,000 common share purchase warrants (the “Warrants”).  Each Warrant entitles the holder thereof to acquire one additional common share until March 27, 2010, at a price of $1.25.   In the event that the Warrants are fully exercised, these holdings represent approximately 4.5% of the total issued and outstanding common shares of Rockgate as of March 27, 2008, calculated on a partially diluted basis assuming the exercise of the Warrants only.  As a result of this transaction, Pinetree holds, as at March 27, 2008, an aggregate of 2,562,700 common shares of Rockgate, including the Common Shares, and rights to acquire an additional 2,250,000 common shares of Rockgate upon the exercise of convertible securities (collectively, the “Convertible Securities”), including the Warrants.  In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 4,812,700 common shares of Rockgate, or approximately 13.7% of all issued and outstanding common shares as at March 27, 2008, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. 

These transactions were made for investment purposes and Pinetree could increase or decrease its investment in Rockgate 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 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 resources sectors: Uranium, Oil & Gas, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals.  Pinetree’s investment approach is to build a macro position in a sector, find the micro-cap opportunities within that sector and work with those companies to build them to commercial production and create an exit.

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

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