16:18 04Sep2007 MKW- Pinetree Capital Announces Renewal of Normal Course Issuer Bid
TORONTO, ONTARIO, Sep 04 (MARKET WIRE) --
Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company,
announces its intention to renew its normal course issuer bid (the "Bid")
through the facilities of the Toronto Stock Exchange, and purchase up to
4,500,000 of its common shares, representing approximately 4.5% of the
common shares outstanding as at August 31, 2007.
The Bid will commence on September 26, 2007 and end on September 25,
2008. Purchases of common shares under the Bid will be made at market
prices and otherwise in accordance with the rules of the Toronto Stock
Exchange. All common shares purchased under the Bid will be cancelled.
Pinetree believes that, at current market prices (and at certain times
throughout the duration of the Bid), the purchase of its common shares
will contribute to enhancing shareholder value.
Pinetree has not purchased any of its common shares during the previous
twelve months. The Bid is subject to the acceptance of the Toronto Stock
Exchange.
For more details about Pinetree and its investments, please visit our
website at http://www.pinetreecapital.com
This news release contains forward-looking statements within the meaning
of the "safe harbour" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks
and uncertainties and other factors that may cause Pinetree's results to
differ materially from expectations. These include risks relating to
market fluctuations, investee performance and other risks. These
forward-looking statements speak only as of the date hereof. Pinetree
disclaims any intent or obligation to update these forward-looking
statements.
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