Pinetree Capital Ltd. Upsizes Convertible Debenture Financing To $75 Million
April 21, 2011
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TORONTO, Canada (April 21, 2011) Pinetree Capital Ltd. (TSX: PNP)
TORONTO, Canada (April 21, 2011) Pinetree Capital Ltd. (TSX: PNP)(“Pinetree”) is pleased to announce that it has increased the size of its previously announced private placement of convertible debentures (the "Offering") to an aggregate principal amount of $75 million. The other terms of the Offering remain as disclosed in Pinetree's press release dated April 20, 2011.
Closing of the Offering is anticipated to occur on or about May 17, 2011 (the "Closing Date") and is subject to certain customary conditions and regulatory approvals, including approval of the TSX.
The Offering is being conducted on Pinetree's behalf by a syndicate of agents co-led by Dundee Securities Ltd. and GMP Securities L.P., and including Acumen Capital Finance Partners Ltd., Fraser Mackenzie Limited, and M Partners Inc. In connection with this Offering, Pinetree has agreed to pay to the agents a cash commission equal to 5% of the gross proceeds raised.
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