then this release comes out...

Pinetree Capital Announces TSX Approval of Normal Course Issuer Bid
8/30/2010 8:00:04 AM - Market Wire

TORONTO, ONTARIO, Aug 30, 2010 (Marketwire via COMTEX News Network) --

Pinetree Capital Ltd. (TSX:PNP), a Canadian investment company, announces that it has received the approval of the Toronto Stock Exchange (the "TSX") in respect of its previously announced normal course issuer bid (the "Bid") to purchase, through the facilities of the TSX and on other published markets, up to 5,000,000 of its common shares, representing approximately 3.7% of the 135,709,653 common shares outstanding as at August 27, 2010.

The Bid will commence on September 1, 2010 and end on August 31, 2011. Purchases of common shares under the Bid will be made at market prices and otherwise in accordance with the rules of the TSX. All common shares purchased under the Bid will be cancelled.

Pinetree believes that recent trading prices of its shares are not, and prices from time to time throughout the duration of the Bid may not be, fully reflective of the company's underlying value. Depending upon future price movements and other factors, the purchase of its shares under the Bid may represent an attractive investment for the company and a desirable use of funds to contribute to enhancing shareholder value.

Pinetree has not purchased any of its common shares during the previous twelve months.