PNP Pinetree Capital Ltd

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


Pinetree Capital Ltd. (TSX: PNP) Pinetree Capital announces that, on June 27,
2014, it completed its acquisition of a 25% interest (40% partially diluted) in
Sviral, Inc., through the purchase of 10 million shares of Series B Preference
Stock and 10 million Series B Preferred Stock warrants of Sviral. As
consideration for the US$5,000,000 purchase price for the securities, Pinetree
paid US$500,000 in cash and issued 10,975,610 common shares to Sviral,
representing approximately 6.2% of the total number of Pinetree's common shares
outstanding prior to the closing date.


Sviral is a private company headquartered in Sunnyvale, California that is
working towards solving one of the primary problems in computer science - the
inability of programmers to effectively utilize the full capacity of each
central processing unit. Sviral's technology aims to enable the creation of a
new category of applications that can utilize all available processing cores and
enables simple, efficient, and high performance for processing complex streams
of data.


"We are excited to be working with Pinetree," states Paul Master, co-founder of
SVIRAL Inc. "We have both recognized that the cloud is undergoing a radical and
rapid transformation where Mobile and Big Data are becoming just two different
sides of the same coin. Pinetree's vision and funding will allow SVIRAL to
deploy its first set of products which will seamlessly combine the underutilized
computing resources of the mobile edge and the underutilized computing resources
of the centralized data center cloud."


"The SVIRAL team has been working together for more than a decade, tackling one
of the most difficult problems in computer science," says Mathew Wilson, Vice
President at Pinetree Capital. "Parallel computing will be a primary enabled for
the next wave of technology innovation. We are excited to be involved as SVIRAL
begins to integrate into the marketplace." 


Pinetree issued an additional 4,661,246 common shares on June 27, 2014,
representing approximately 2.6% of the company's common shares outstanding prior
to that date, as consideration for two other investments made by the company.
All of the common shares issued for the investments had an effective price of
Cdn$0.45 per share.


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


Investor Relations:
Pinetree Capital Ltd.
Richard Patricio, LL.B.
Vice President, Legal and Corporate Affairs
416-941-9600
ir@pinetreecapital.com / www.pinetreecapital.com

Pinetree Capital (TSX:PNP)
Historical Stock Chart
From Apr 2024 to May 2024

Pinetree Capital (TSX:PNP)
Historical Stock Chart
From May 2023 to May 2024