Pinetree Capital Ltd. Announces Further Extension to Term Sheet With Supporting Debentureholders
(firmenpresse) - TORONTO, CANADA -- (Marketwired) -- 02/11/15 -- Pinetree Capital Ltd. ("Pinetree" or the "Company") (TSX: PNP)(TSX: PNP.DB) announces that the Company and certain holders (the "Supporting Debentureholders") of its 10% convertible unsecured subordinated debentures due May 31, 2016 (the "Debentures") have agreed to further extend the deadline for the completion of a forbearance agreement and related matters set out in their previously-announced term sheet, from February 6, 2015 to February 13, 2015. Additionally, until the earlier of the execution of the forbearance agreement and February 13, 2015, the Supporting Debentureholders will not exercise any rights or remedies that they may have under the indenture governing the Debentures, or otherwise, in respect of the existing event of default under the indenture (which arose from the breach of one of the Company's debt covenants), and will direct the trustee to cancel any declaration that may be made by the trustee that the principal of and interest on the Debentures is due and payable in connection with the event of default.
About Pinetree
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 merchant banking firm focused on the small cap market. Pinetree's investments are primarily in the following sectors: Precious Metals, Uranium and Technology. 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.
Contacts:
Pinetree Capital Ltd.
Gerry Feldman, CPA, CA.
CFO & Vice President, Corporate Development
416-643-3884
Investor Relations: Pinetree Capital Ltd.
Richard Patricio, LL.B.
Vice President, Legal and Corporate Affairs
416-941-9600
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Datum: 11.02.2015 - 17:19 Uhr
Sprache: Deutsch
News-ID 370947
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, CANADA
Kategorie:
Mining & Metals
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