Pinetree Capital Ltd. Announces Private Placement
March 27, 2006
Toronto, Ontario –
It is anticipated that the net proceeds of the private placement will be used by Pinetree for future investment activities, to repay certain indebtedness and for general corporate purposes.
For their services, the Agents will receive cash commission equal to 5.5% of the gross proceeds raised in this private placement and compensation warrants (the “Compensation Warrants”) entitling the Agents to purchase such number of common shares equal to 5.5% of the aggregate number of Units sold pursuant to the private placement. Each Compensation Warrant will entitle the Agents to purchase one common share of the Company at a price of $24.26 per common share for a period of 24 months following the closing
Completion of the private placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX. The units will be sold pursuant to exemptions from the prospectus requirements to purchasers in all of the provinces of
Up to 10% of the units may be purchased by insiders of Pinetree.
Pinetree Capital Ltd. ("Pinetree" or the "Company") was incorporated under the laws of the
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.