Pinetree Capital Ltd Announces Audited Financial Results For The Year Ended December 31, 2023

In This Article:

TORONTO, ON / ACCESSWIRE / February 29, 2024 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree" or the "Company") today announced its financial results for the year ended December 31, 2023. All figures provided in this press release are in $000 except per share amounts and shares outstanding.

Financial results for the three months and year ended December 31, 2023

The following information should be read in conjunction with our annual audited Consolidated Financial Statements, prepared in accordance with International Financial Reporting Standards ("IFRS") and our annual Management Discussion and Analysis for the year ended December 31, 2023, which can be found on SEDAR at www.sedar.com.

Selected Financial Information


As at December 31, 2023

As at December 31, 2022

Total assets

$

45,749

$

40,062

Total liabilities

377

443

Book Value

45,372

39,619

Shares outstanding

9,387,000

9,387,000

Book Value per share (BVPS)

$

4.83

$

4.22


Shares Outstanding

Equity

Book Value per share (BVPS)1

Quarterly Expenses

Expenses as a percentage of BV1



$000's

$

$000's

%

Dec-31-23

9,387,000

45,372

4.83

148

0.3

Sep-30-23

9,387,000

41,399

4.41

190

0.5

Jun-30-23

9,387,000

42,111

4.49

260

0.6

Mar-31-23

9,387,000

39,056

4.16

283

0.7

Dec-31-22

9,387,000

39,619

4.22

275

0.7

Sep-30-22

9,387,000

36,550

3.89

293

0.8

Jun-30-22

9,387,000

37,644

4.01

230

0.6

Mar-31-22

9,387,000

35,779

3.81

337

0.9

1 Refer to "Use of Non-IFRS Financial Measures"
Shares Outstanding and Equity amounts are as at the Quarter End date. Expense amounts are for the Three months ending the Quarter End date

As at December 31, 2023, Pinetree's equity was $45,372 which compares to $39,619 as at December 31, 2022. This resulted in Pinetree's BVPS increasing from $4.22 as at December 31, 2022 to $4.83 as at December 31, 2023. The change represents an increase of $0.61 or 15%.

As at December 31, 2023, the Company held investments at fair value totaling $43,448 which represented 96% of book value. This compares to investments at fair value of $33,905 representing 86% of book value as at December31, 2022.

Total expenses for the twelve months ended December 31, 2023 were $896 which corresponds to 1.9% of book value as at December 31, 2023. This compares to total expenses of $1,135 for the twelve months ended December 31, 2022 which corresponds to 2.9% of book value as at December 31, 2022. Included in expenses are foreign exchange fluctuations resulting from cash balances held in currencies other than Canadian Dollars.