NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, Canada (April 17, 2014) – Pinetree Capital Ltd. (“Pinetree” or the “company”) (TSX: PNP) is pleased to announce that it has increased the size of its proposed non-brokered private placement to up to 23,333,333 units (the "Units") at a price of $0.45 per Unit, for aggregate gross proceeds of up to $10.5 million (the “Financing”).

Pinetree insiders may subscribe for up to a maximum of $3.5 million or 7,777,777 Units.

All other terms of the Financing disclosed in the company’s press release of April 16, 2014 remain the same.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.)

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.