Pinetree Capital Ltd. Announces Unaudited Financial Results for the Three Months Ended March 31, 2010

- May 13th, 2010

Pinetree Capital Ltd. (TSX:PNP) reported its unaudited financial results for the three months ended March 31, 2010.

Pinetree Capital Ltd. (TSX:PNP) reported its unaudited financial results for the three months ended March 31, 2010.
The press release is quoted as saying:

During the first quarter of fiscal 2010, Pinetree generated net income of $14.3 million, as compared to a net income of $28.6 million for the same quarter last year. Net income generated was primarily the result of net investment gains of $21.8 million in the quarter, comprised mainly of $16.9 million in unrealized gains on investments and realized gains on dispositions of investments of $5.2 million. Earnings per share was $0.11, as compared to $0.22 in the three months ended March 31, 2009.

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