Target Information

Pinetree Capital Ltd. has successfully acquired a total of 745,000 common shares of Titan Uranium Inc., representing approximately 0.6% of Titan Uranium's total issued shares as of February 7, 2011. This acquisition is part of a series of transactions completed on the same date, resulting in Pinetree Capital and its affiliates holding a collective total of 10,111,542 shares, which includes additional rights to acquire 3,950,000 shares via convertible securities. Specifically, Pinetree Capital directly owns 3,999,342 shares and holds 1,500,000 convertible securities, reflecting a strong stake in Titan Uranium.

If all convertible securities are exercised, Pinetree and its affiliated actors would control approximately 10.7% of Titan Uranium’s shares on a partially diluted basis. Moreover, if Pinetree were to fully exercise its convertible securities, its direct ownership could extend to 5,499,342 shares, equating to roughly 4.3% of the total shares outstanding.

Industry Overview in Canada

The Canadian uranium industry is one of the leading sectors globally, renowned for its significant reserves and mature exploration and production capabilities. Canada remains the largest uranium producer, with operation