TORONTO, ONTARIO -- (Marketwire) -- 12/05/12 -- Pinetree Capital Ltd. (TSX:PNP), announces that on December 5, 2012, it acquired ownership of 1,000,000 common shares ("Common Shares") of Potash Ridge Corporation ("Potash Ridge") upon completion of Potash Ridge's initial public offering, representing approximately 1.2% of the issued and outstanding common shares of Potash Ridge as of December 5, 2012. As a result of this transaction, Pinetree and its joint actors collectively held, as at December 5, 2012, an aggregate of 9,500,000 common shares of Potash Ridge, including the Common Shares, and rights to acquire an additional 2,000,000 common shares of Potash Ridge upon exercise of certain convertible securities (the "Convertible Securities"). Of these totals, Pinetree owns 8,000,000 common shares, including the Common Shares, and 1,250,000 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 11,500,000 common shares of Potash Ridge, or approximately 13.8% of all issued and outstanding common shares as at December 5, 2012, 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 9,250,000 common shares of Potash Ridge, or approximately 11.2% of all issued and outstanding common shares as at December 5, 2012, calculated on a partially diluted basis assuming the exercise of the Pinetree Convertible Securities only.

These transactions were made for investment purposes and Pinetree or its joint actors could increase or decrease their investment in Potash Ridge 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 venture capital firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Precious Metals, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal. 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 in the resource industry.