Pinetree Capital Announces $10 Million Partial Redemption Of Convertible Debentures Due May 31, 2016
March 26, 2015
TORONTO, Canada (March 26, 2015) Pinetree Capital Ltd. (TSX: PNP; PNP.DB) announces that it is exercising its right to partially redeem the company’s 10.0% Convertible Secured Debentures due May 31, 2016 (the “Debentures”), in accordance with the terms of the trust indenture governing the Debentures. On April 30, 2015 (the “Redemption Date”), Pinetree will redeem $10 million of the $54.822 million aggregate principal amount of Debentures currently outstanding. The Debentures will be redeemed on a pro rata basis at par, together with all accrued and unpaid interest thereon up to but excluding the Redemption Date, for a total redemption amount equal to $1,041.37 for each $1,000 principal amount of Debentures redeemed (less any applicable taxes required to be withheld).
Pinetree intends to use available cash on hand to pay the aggregate redemption amount of the Debentures.
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, Uranium and Technology. 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.
|Gerry Feldman, CPA, CA.||Richard Patricio, LL.B.|
|CFO & Vice President, Corporate Development||Chief Executive Officer|
|Pinetree Capital Ltd.||Pinetree Capital Ltd.|
|Phone: 416-643-3884||130 King Street West, Suite 2500|
|Email: email@example.com||Toronto, Ontario, Canada, M5X 2A2|