TSX: PNP     Last: 3.77     Change: -0.04
TSX: PNP     Last: 3.77     Change: -0.04

Pinetree Capital Ltd. Announces New By-Law

April 17, 2014

TORONTO, Canada (April 17, 2014) Pinetree Capital Ltd. (TSX: PNP) announces that its board of directors has approved a new by-law which replaces the company’s previous by-laws. The new by-law is intended to modernize certain of the company’s practices and procedures, in light of amendments to the Business Corporations Act (Ontario) (“OBCA”) and the evolution of governance practices since the early 1990’s when the previous by-laws were made.

The new by-law includes the addition of advance notice provisions for nominations of directors by shareholders in circumstances other than pursuant to a requisition of a meeting or a shareholder proposal made pursuant to the provisions of the OBCA.

Among other things, the advance notice provisions fix a deadline by which shareholders must submit director nominations to Pinetree prior to an annual or special meeting of shareholders and set out the information that a shareholder must include in the notice to the company.

In the case of an annual meeting of shareholders, notice to the company must be provided not less than 30 days and not more than 65 days prior to the date of the annual meeting; provided that if the annual meeting is called for a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following the public announcement.

In the case of a special meeting of shareholders (which is not also an annual meeting but has been called for the purpose of electing directors, among other purposes, if applicable), notice to the company must be provided no later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
The advance notice provisions are intended to provide a clear process for shareholders to follow for director nominations and set out a reasonable time frame for the submissions of nominees and the accompanying information. The provisions will help to ensure that all shareholders receive adequate notice of the nominations to be considered at a meeting and can thereby exercise their voting rights in an informed manner. The provisions are similar to the advance notice by-laws adopted by many other Canadian public companies.

The new by-law is effective immediately but is subject to confirmation by our shareholders at the annual and special shareholder meeting to be held on June 5, 2014. The full text of the new by-law is available under Pinetree’s profile at www.sedar.com.

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.

Investor Relations:
Sheldon Inwentash, CPA, CA.
Richard Patricio, LL.B.
Chairman & CEO
Vice President, Legal and Corporate Affairs
Pinetree Capital Ltd.
Pinetree Capital Ltd.
130 King Street West, Suite 2500
Gerry Feldman, CPA, CA.
Toronto, Ontario, Canada, M5X 2A2
CFO & Vice President, Corporate Development
Phone: 416-941-9600
Pinetree Capital Ltd.
Phone: 416-643-3884

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