Pinetree Capital Announces Closing of $43 Million Private Placement
July 11, 2008
Each unit is comprised of one common share (a “Common Share”) and one-half of one common share purchase warrant of Pinetree. Each whole common share purchase warrant entitles the holder to acquire one Common Share at a price of $3.50 per share until expiry on July 11, 2013.
The units were sold through a syndicate of agents co-led by Genuity Capital Markets G.P. and PowerOne Capital Markets Limited, and including Canaccord Capital Corporation and Thomas Weisel Partners Canada Inc. As consideration for their services in respect of the private placement, the agents received a cash commission of $2,091,279 and compensation options exercisable for up to 722,771 Common Shares, at a price of $2.72 per share, until expiry on July 11, 2010.
Pinetree intends to use the proceeds of the private placement for future investment activities, to reduce existing debt obligations and for general corporate purposes.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the
For more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com
Pinetree Capital Ltd.
Toronto, Ontario, Canada, M5X 1A9
Web Site: www.pinetreecapital.com