By Laura Lutz
Des Moines, March 27 - Pinetree Capital Ltd. arranged a private placement of units for a maximum of C$121.3 million.
The company plans to sell up to 5 million units, and at least 1.5 million units, for C$24.26 per unit. Each unit consists of one share and one half-share warrant with each whole warrant exercisable at C$30.00 for five years.
Genuity Capital Markets acted as lead agent for a syndicate that also included Westwind Partners Inc., Canaccord Adams and Kingsdale Capital Markets Inc.
Proceeds will be used for future investment, to repay indebtedness and for general corporate purposes.
Pinetree is an investment banking company based in Toronto.
| Issuer: | Pinetree Capital Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$121.3 million
|
| Units: | 5 million (maximum); 1.5 million (minimum)
|
| Price: | C$24.26
|
| Warrants: | One half-share warrant
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$30.00
|
| Agent: | Genuity Capital Markets (lead), Westwind Partners Inc., Canaccord Adams, Kingsdale Capital Markets Inc.
|
| Pricing date: | March 27
|
| Stock symbol: | Toronto: PNP
|
| Stock price: | C$24.50 at close March 27
|
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