Mr. Richard Patricio reports

PINETREE CAPITAL ANNOUNCES AUGUST $10 MILLION PARTIAL REDEMPTION OF CONVERTIBLE DEBENTURES

Pinetree Capital Ltd. is once again exercising its right to partially redeem the company's 10.0-per-cent convertible secured debentures due May 31, 2016, in accordance with the terms of the indenture governing the debentures.

On Aug. 31, 2015, Pinetree will redeem $10-million of the $24,784,000 aggregate principal amount of debentures currently outstanding. The debentures will be redeemed on a pro rata basis at par, together with all accrued and unpaid interest thereon, up to but excluding the redemption date, for a total redemption amount equal to $1,025.2054 for each $1,000 principal amount of debentures redeemed (less any applicable taxes required to be withheld).

Pinetree will use available cash on hand to pay the aggregate redemption amount of the debentures.