By Sheri Kasprzak
New York, March 30 - Pinetree Capital Ltd. priced a C$22.5 million private placement of stock.
The deal includes up to 1.5 million shares at $15.00 each, an 11.7% discount to the company's closing stock price on March 29.
Placement agent Westwind Partners Inc. has a greenshoe for up to C$7.5 million.
The deal is scheduled to close April 20.
Up to 10% of the financing will be bought by insiders.
Based in Toronto, Pinetree is an investment, financial advisory and merchant banking firm focused on the oil, uranium, precious metals and base metals sectors.
Issuer: | Pinetree Capital Ltd.
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Issue: | Stock
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Amount: | C$22.5 million (maximum)
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Greenshoe: | For C$7.5 million
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Shares: | 1.5 million (maximum)
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Price: | C$15.00
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Warrants: | No
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Placement agent: | Westwind Partners Inc.
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Pricing date: | March 30
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Settlement date: | April 20
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Stock symbol: | Toronto: PNP
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Stock price: | C$11.75 at close March 30
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