Uranium North Resources Corp fka UNR (UNR)

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Pinetree Capital Ltd. (TSX: PNP), announces that on January 16, 2012, it acquired ownership of 750,000 common shares (“Common Shares”) of Uranium North Resources Corp. (“Uranium North”) through the facilities of the TSX Venture Exchange representing approximately 0.9% of the total issued and outstanding common shares of Uranium North as of January 16, 2012. As a result of this transaction, Pinetree held, as at January 16, 2012, an aggregate of 8,500,000 common shares of Uranium North, including the Common Shares, and rights to acquire an additional 750,000 common shares of Uranium North upon exercise of certain convertible securities (the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 9,250,000 common shares of Uranium North, or approximately 10.7% of all issued and outstanding common shares as at January 16, 2012, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Uranium North depending on market conditions or any other relevant factor.