Pinetree Capital Announces August $10 Million Partial Redemption Of Convertible Debentures
July 30, 2015
TORONTO, Ontario (July 30, 2015) – Pinetree Capital Ltd. (TSX: “PNP”; “PNP.DB”) announces that it is once again 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 indenture governing the Debentures.
On August 31, 2015 (the “Redemption Date”), Pinetree will redeem $10 million of the $24.784 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 $1,025.2054 for each $1,000 principal amount of Debentures redeemed (less any applicable taxes required to be withheld).
Pinetree will use available cash on hand to pay the aggregate redemption amount of the Debentures.
Pinetree is a diversified investment and merchant banking firm focused on the small cap market, with early stage investments in resource, biotechnology and technology companies. Pinetree’s shares are listed on the Toronto Stock Exchange (“TSX”) under the symbol “PNP”.
|Richard Patricio, LL.B.|
|Chief Executive Officer|
|Pinetree Capital Ltd.|
|130 King Street West, Suite 2500|
|Toronto, Ontario, Canada, M5X 2A2|