TORONTO, ONTARIO--(Marketwired - July 30, 2015) - Pinetree Capital Ltd. ("Pinetree") (TSX:PNP) today announces its unaudited condensed consolidated interim financial results for the three and six months ended June 30, 2015.

For the three months ended June 30, 2015, Pinetree had a net loss of $4.7 million, as compared to a net profit of $2.7 million for the same quarter last year. Net loss for the three months ended June 30, 2015 was primarily the result of net investment losses of $2.1 million, comprised of $10.6 million in realized losses on dispositions of investments offset by unrealized gains on investments of $8.5 million. Basic loss per share was $0.02 for the three months ended June 30, 2015, as compared to basic earnings per share of $0.02 for the three months ended June 30, 2014.

For the six months ended June 30, 2015, Pinetree had a net loss of $11.9 million, as compared to a net profit of $33 million for the same period last year. Net loss for the six months ended June 30, 2015 was primarily the result of net investment losses of $5.7 million, comprised of $40.1 million in realized losses on dispositions of investments offset by unrealized gains on investments of $34.4 million. Basic loss per share was $0.06 for six months ended June 30, 2015, as compared to basic earnings per share of $0.21 for the six months ended June 30, 2014.

As at June 30, 2015, the fair value of the Company's total investments was $61 million, as compared to $107 million as at December 31, 2014, a decrease of 43%. The composition of Pinetree's investment portfolio by sector as at June 30, 2015 and December 31, 2014 is outlined in the following table:

============================================================================
                                     June 30, 2015       December 31, 2014  
                                --------------------------------------------
Sector                             ($'000)  % of Total   ($'000)  % of Total
----------------------------------------------------------------------------
Resources                           17,818        29.3    26,903        25.2
                                --------------------------------------------
Technology and other                35,697        58.7    70,355        65.9
                                --------------------------------------------
Biotechnology                        7,297        12.0     9,502         8.9
                                --------------------------------------------
Total investments                   60,812       100.0   106,760       100.0
============================================================================

Net asset value per share ("NAV") was $0.20 as at June 30, 2015, a 20% decrease from the December 31, 2014 NAV of $0.25. (See "Use of Non-GAAP Measures" below.)