(RTTNews) - Pinetree Capital Ltd. (PNP.TO) on Monday said it acquired ownership of 720 thousand common shares of Noront Resources Ltd. through the facilities of the TSX Venture Exchange representing approximately 0.6% of the total issued and outstanding common shares of Noront as of October 25, 2007.

Under the transaction, Pinetree and its joint actors collectively held, as at October 25, 2007, an aggregate of 11.48 million common shares of Noront, which represents around 10.2% of all issued and outstanding common shares as at October 25, 2007. Of these totals, Pinetree owns an aggregate of 8.61 million common shares, including the common shares, which represents about 7.6% of all issued and outstanding common shares as at October 25, 2007.

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