TORONTO, ONTARIO--(Marketwired - July 30, 2015) - Pinetree Capital Ltd. (TSX:PNP)(TSX:PNP.DB) announces that it is once again exercising its right to partially redeem the company's 10.0% Convertible Secured Debentures due May 31, 2016 (the "Debentures"), in accordance with the terms of the indenture governing the Debentures.
On August 31, 2015 (the "Redemption Date"), Pinetree will redeem $10 million of the $24.784 million aggregate principal amount of Debentures currently outstanding. The Debentures will be redeemed on a pro rata basis at par, together with all accrued and unpaid interest thereon up to but excluding the Redemption Date, for a total redemption amount equal to $1,025.2054 for each $1,000 principal amount of Debentures redeemed (less any applicable taxes required to be withheld).
Pinetree will use available cash on hand to pay the aggregate redemption amount of the Debentures. |
