PNP Pinetree Capital Ltd

Pinetree Capital Ltd. (TSX:PNP), announces that on June 27, 2014, it acquired
ownership of 6,250,000 common shares ("Common Shares") and 6,250,000 common
share purchase warrants (the "Warrants") of Integra Gold Corp. ("Integra"). Each
warrant entitles the holder thereof to acquire one additional common share at a
price of $0.30 until June 27, 2016. In the event that the Warrants are fully
exercised, these holdings represent approximately 6.5% of the total issued and
outstanding common shares of Integra as of June 27, 2014, calculated on a
partially diluted basis assuming the exercise of the Warrants only. As a result
of this transaction, Pinetree and its joint actors collectively held, as at June
27, 2014, an aggregate of 19,452,850 common shares of Integra, including the
Common Shares, and rights to acquire an additional 8,600,000 common shares of
Integra upon the exercise of convertible securities (the "Convertible
Securities"). Of these totals, Pinetree owns 16,250,000 common shares, including
the Common Shares, and 6,250,000 of the Convertible Securities (the "Pinetree
Convertible Securities") directly. In the event that the Convertible Securities
are fully exercised, the holdings of Pinetree and its joint actors represents a
total of 28,052,850 common shares of Integra or approximately 14.4% of all
issued and outstanding common shares as at June 27, 2014, calculated on a
partially diluted basis assuming the exercise of the Convertible Securities
only. In the event that the Pinetree Convertible Securities are fully exercised,
the direct holdings of Pinetree represents a total of 22,500,000 common shares
of Integra, or approximately 11.7% of all issued and outstanding common shares
as at June 27, 2014, 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 its joint
actors could increase or decrease their investment in Integra 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 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
416-643-3884


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


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

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