Pinetree Capital Ltd. Announces Closing Of $34.5 Million Private Placement
April 27, 2006
Toronto, Ontario (April 27, 2006) –
Westwind Partners Inc. acted as lead agent, on a best efforts basis. Terms of the Agency Agreement between Westwind Partners Inc. and Pinetree, can be found on SEDAR at www.sedar.com.
In connection with the financing, an aggregate of 74,000 common shares were issued to related parties and their associated entities. The filing of a material change report relating to the financing will occur less than 21 days before the closing date of the financing, however, Pinetree believes that this is reasonable and necessary as the information contained in the material change report was not previously available to Pinetree.
Completion of the financing remains subject to the final approval of the TSX.
Pinetree’s investment approach is to build a macro position in a sector, find the micro-cap opportunities in that sector and work with those companies to build them to commercial production and create an exit.
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Pinetree’s results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Pinetree disclaims any intent or obligation to update these forward-looking statements.
Investor Relations Contact for Pinetree Capital Ltd.:
Executive Vice President and Chief Financial Officer
Pinetree Capital Ltd.