Pinetree Capital Ltd. acquired 750,000 common shares of Uranium North Resources Corp., increasing its total holdings to approximately 10.7% of the company's shares.

Information on the Target

Uranium North Resources Corp. (“Uranium North”) is a Canadian company involved in the exploration and development of uranium resources. As of January 16, 2012, it had a total of 750,000 common shares acquired by Pinetree Capital Ltd. through the TSX Venture Exchange, representing approximately 0.9% of the company’s total issued and outstanding common shares. Following this acquisition, Pinetree's total holdings in Uranium North comprised 8,500,000 shares, including the newly acquired shares.

If the company’s convertible securities are fully exercised, Pinetree’s stake in Uranium North would increase to 9,250,000 common shares, accounting for approximately 10.7% of the total shares outstanding on a partially diluted basis. This significant investment reflects Pinetree’s long-term commitment to Uranium North, positioning itself as a major stakeholder in the company’s future developments.

Industry Overview in Canada

The Canadian uranium sector is a vital component of the country’s mining industry, recognized for hosting some of the largest and richest uranium deposits globally. Canada remains a top producer of uranium, substantially