Pinetree Capital Announces Cure Of Convertible Debenture Debt Incurrence Covenant
December 12, 2014
TORONTO, Canada (December 12, 2014) - Pinetree Capital Ltd. (TSX: PNP; PNP.DB) announces that it has cured the previously-announced default of one of its debt incurrence covenants contained in the convertible debenture indenture that governs the company’s 10% convertible unsecured subordinated debentures due May 31, 2016. Pinetree has repaid the $3.3 million of additional indebtedness previously incurred in contravention of the covenant. The company’s sole indebtedness for the purpose of the covenant is currently comprised of the principle amount outstanding (plus accrued interest) on the debentures.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the Province of Ontario and its shares are publicly-traded on the Toronto Stock Exchange (“TSX”) under the symbol “PNP”. Pinetree is a diversified investment and merchant banking firm focused on the small cap market. Pinetree’s investments are primarily in the following sectors: Precious Metals, Technology and Uranium. Pinetree’s investment approach is to develop a macro view of a sector, build a position consistent with the view by identifying micro-cap opportunities within that sector, and devise an exit strategy designed to maximize our relative return in light of changing fundamentals and opportunities. Pinetree is recognized as a value added partner.
|Sheldon Inwentash, CPA, CA.||Richard Patricio, LL.B.|
|Chairman & CEO||Vice President, Legal and Corporate Affairs|
|Pinetree Capital Ltd.||Pinetree Capital Ltd.|
|130 King Street West, Suite 250|
|Gerry Feldman, CPA, CA.||Toronto, Ontario, Canada, M5X 2A2|
|CFO & Vice President, Corporate Development||Phone: 416-941-9600|
|Pinetree Capital Ltd.||Email: email@example.com|
|Phone: 416-643-3884||Website: www.pinetreecapital.com|