text: Exchange: TSX Exchange | Nov 22, 2017, 4:24 AM EST
  $	3.13
  Day High 3.21
  52 Week Low 1.70
  52 Week High 4.02
  High: 4.02	 52 Week Low
  Pinetree Capital Ltd. (TSX:PNP) ("Pinetree" or the "Company") today announced that it has sold a significant portfolio asset, which will have a nominal impact on its net asset value (or NAV).
  On November 7, 2016, the Company previously announced that management believed that the business prospects of a private company in which it was invested, which constituted 31% of the fair market value of the Company's investment portfolio as at September 30, 2016, may have materially deteriorated. On December 30, 2016, the Company sold all of the securities that it owned in this private company to a third-party purchaser for a purchase price of approximately US$2,000,000. The sale of the Company's interest in this private portfolio company is expected to result in a decrease to the Company's NAV of approximately $570,000 or 5% (or approximately $0.13 cents per share).
  Certain statements herein may be "forward looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Pinetree or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Pinetree assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances.
  NAV (net asset value per share) is a non-IFRS (international financial reporting standards) measure calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to IFRS and therefore may not be comparable to similar measures presented by other companies. There is no comparable IFRS measure presented in Pinetree's consolidated financial statements and thus no applicable quantitative reconciliation for such non-IFRS financial measure. The Company has calculated NAV consistently for many years and believes that NAV can provide information useful to its shareholders in understanding its performance and may assist in the evaluation of its business relative to that of its peers.
  Pinetree is a diversified investment and merchant banking firm focused on the small cap market, with early stage investments in technology, resource and biotechnology companies. Pinetree's common shares are listed on the Toronto Stock Exchange (TSX) under the symbol "PNP".