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Pinetree Capital Ltd.: Pinetree Capital Ltd. Acquires Securities of Northrock Resources Inc.

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^{Published in Business and Finance on Tuesday, July 7th 2009 at 8:10 GMT, Last Modified on 2009-07-07 08:10:49 by Market Wire}  

TORONTO, ONTARIO--(Marketwire - July 7, 2009) - Pinetree Capital Ltd. (TSX:PNP), announces that on July 6, 2009, it acquired ownership of 2,000,000 common shares ("Common Shares") of Northrock Resources Inc. ("Northrock") and 2,000,000 common share purchase warrants (the "Warrants"). Each Warrant entitles the holder thereof to acquire one additional common share until December 31, 2010, at a price of $0.10. In the event that the Warrants are fully exercised, these holdings represent approximately 6.8% of the total issued and outstanding common shares of Northrock as of July 6, 2009, calculated on a partially diluted basis assuming the exercise of the Warrants only. As a result of this transaction, Pinetree and its joint actors held, as at July 6, 2009, an aggregate of 4,610,899 common shares of Northrock, including the Common Shares and convertible securities exercisable into 4,610,899 common shares of Northrock (the "Convertible Securities"), including the Warrants. Of these totals, Pinetree directly holds 3,270,899 common shares and rights to acquire an additional 3,270,899 common shares of Northrock upon exercise of convertible securities (the "Pinetree Convertible Securities"), including the Warrants. If Pinetree and its joint actors were to exercise all of the Convertible Securities, their combined ownership would represent a total of 9,221,798 common shares of Northrock, or approximately 27.8% of such shares outstanding as of July 6, 2009, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. If Pinetree were to exercise all of the Pinetree Convertible Securities, its direct ownership would represent a total of 6,541,798 common shares of Northrock, or approximately 20.5% of such shares outstanding as of July 6, 2009, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.

These transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in Northrock 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, Molybdenum, Precious Metals, Potash and Rare Earths, and Base Metals. 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 ].