PNP Pinetree Capital Ltd

The following corrects and replaces the release sent on May 28th, 2014 at 4:04
PM ET. The date on the press release should read May 28, 2014, and not May 27,
2014.


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


Pinetree Capital Ltd. (TSX:PNP) announces the closing today of the remaining
portion of its non-brokered private placement (the "Financing"), pursuant to
which the company raised an additional $2,000,000 in gross proceeds from the
issuance and sale of 4,444,444 units, at a price of $0.45 per unit. In total,
Pinetree raised total gross proceeds of $10,500,000 under the Financing from the
issuance and sale of an aggregate of 23,333,333 units.


Each Unit was comprised of one common share and one-half of one common share
purchase warrant of Pinetree. Each whole warrant entitles the holder to purchase
one common share of the company, at a price of $0.75, until expiry on May 26
2017, provided that, if the weighted-average trading price of the company's
common shares on the Toronto Stock Exchange is $1.25 or more for any period of
twenty consecutive trading days commencing after September 26, 2014, Pinetree
may accelerate the expiry date of the warrants upon at least 30 days' notice to
the holders.


The proceeds of the Financing will be used for working capital purposes, which
may include the purchase for cancellation of a portion of the company's
outstanding convertible debentures.


Officers and directors of Pinetree (and their associates) purchased an aggregate
of 3,933,333 units under the Financing, representing approximately 17% of the
total number of units sold under the Financing.


Pinetree paid finders' fees in the form of an aggregate of 1,331,557 units to
third parties who assisted the company in the Financing, including 355,556 units
which were issued in connection with today's closing. The units have the same
terms and conditions as the units sold in the Financing.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pinetree Capital Ltd.
Sheldon Inwentash, CPA, CA.
Chairman & CEO


Pinetree Capital Ltd.
Gerry Feldman, CPA, CA.
CFO & Vice President, Corporate Development
416-643-3884
feldman@pinetreecapital.com


Pinetree Capital Ltd.
130 King Street West, Suite 2500
Toronto, Ontario, Canada, M5X 2A2
ir@pinetreecapital.com
www.pinetreecapital.com


Investor Relations:
Richard Patricio, LL.B.
Vice President, Legal and Corporate Affairs
416-941-9600

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