Pinetree Capital Announces TSX Listing Of Convertible Debentures
September 16, 2011
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
TORONTO, Ontario (September 16, 2011) -Pinetree Capital Ltd. (TSX: PNP) announces that its 8% convertible unsecured subordinated debentures maturing May 31, 2016, which were issued under its private placement that closed on May 17, 2011, will be listed on the Toronto Stock Exchange commencing at the opening of trading on September 19, 2011 and will trade under the symbol "PNP.DB". An aggregate of $75,000,000 principal amount of debentures will be listed.
The debentures are convertible at the holder's option into common shares of Pinetree at any time prior to the close of business on the earlier of the maturity date and the business day immediately preceding the date, if any, fixed for redemption of the debentures by Pinetree, at a conversion price of $4.25 per common share, being a ratio of 235.2941 common shares per $1,000 principal amount of debentures converted (provided that no fractional shares will be issued), subject to adjustment in certain events. The debentures are redeemable by Pinetree under certain circumstances commencing May 31, 2014.
Pursuant to the terms of the convertible debenture indenture governing the debentures between Pinetree and Equity Financial Trust Company, the debentures may not be (1) transferred to or for the account of a U.S. Person or into the United States or (2) converted by or for the account or benefit of a U.S. Person or a person in the United States and no common shares may be transferred into or issued in the United States or to a U.S. Person in connection with any conversion of a debenture.
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 venture capital firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Precious Metals, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal. 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 in the resource industry.
For more details about Pinetree and its investments, please visit our website at http://www.pinetreecapital.com/.
|Sheldon Inwentash||Richard Patricio|
|Chairman & CEO||Vice President, Legal and Corporate Affairs|
|Pinetree Capital Ltd.||Pinetree Capital Ltd.|
|130 King Street West, Suite 2500||130 King Street West, Suite 250|
|Toronto, Ontario, Canada, M5X 1A9||Toronto, Ontario, Canada, M5X 1A9|
|Website: www.pinetreecapital.com||Phone: 416-941-9600|