Pinetree Capital Ltd. acquires Securities of U308 Corp.

Pinetree Capital Ltd. reports it acquired ownership of 2,550,100 common shares of U308 Corp. which holdings represent approximately 11.1% of the total issued and outstanding common shares of U308 as of October 21, 2009.

The Common Shares were acquired by way of a private agreement in exchange for common shares of Pinetree having an aggregate value of approximately $1,014,000. The transactions were made for investment purposes and Pinetree and each of its joint actors could increase or decrease their respective investments in U308 depending on market conditions or any other relevant factor.

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