Pinetree Capital Ltd.

Diversified investment, financial advisory and merchant banking firm.

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Message: Pinetree Reports $63.8M Net Income....

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Pinetree Reports $63.8M Net Income....

posted on Nov 12, 09 09:14AM

Pinetree Capital Ltd. Announces Unaudited Financial Results For The Three And Nine Months Ended September 30, 2009

TORONTO , Ontario (November 11, 2009) – Pinetree Capital Ltd. (“Pinetree”) (TSX: PNP) today announces its unaudited financial results for the three and nine months ended September 30, 2009.

During the third quarter, Pinetree generated net income of $63.8 million, as compared to a net loss of $210.9 million for the same quarter last year. The net income was primarily from net investment gains of $69.5 million in the quarter, comprised mainly of $74.2 million in unrealized gains on investments partially offset by realized losses on dispositions of investments of $5.4 million. Earnings per share were $0.48, as compared to loss per share of $1.63 in the three months ended September 30, 2008

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