By Devika Patel
Knoxville, Tenn., June 20 - Pinetree Capital Ltd. said it has arranged a C$40 million private placement of units.
The company will sell 16 million units at C$2.50 apiece. Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable for five years at C$3.50.
Up to 4.2 million of the units may be purchased by insiders.
Settlement is expected July 11
Genuity Capital Markets and PowerOne Capital Markets Ltd. are co-lead agents of a syndicate that includes Canaccord Capital Corp. and Thomas Weisel Partners Canada Inc. The agents have a 15% greenshoe for an additional 2.4 million units, or C$6 million.
Proceeds will be used for future investment activities, debt repayment and for general corporate purposes.
Pinetree is an investment banking company based in Toronto.
| Issuer: | Pinetree Capital Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$40 million
|
| Greenshoe: | 2.4 million units, or C$6 million
|
| Units: | 16 million
|
| Price: | C$2.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$3.50
|
| Agents: | Genuity Capital Markets, PowerOne Capital Markets Ltd. (co-leads), Canaccord Capital Corp., Thomas Weisel Partners Canada Inc.
|
| Pricing date: | June 20
|
| Settlement date: | July 11
|
| Stock symbol: | Toronto: PNP
|
| Stock price: | C$2.62 at close June 19
|
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