Pinetree Capital Ltd.
TSX : PNP
TSX : PNP.DB

Pinetree Capital Ltd.

February 02, 2015 12:03 ET

Pinetree Capital Ltd. Announces Extension to Term Sheet With Supporting Debentureholders

TORONTO, CANADA--(Marketwired - Feb. 2, 2015) - 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 extend the deadline for the completion of a forbearance agreement and related matters set out in their previously-announced term sheet, from January 30, 2015 to February 6, 2015. Additionally, until the earlier of the execution of the forbearance agreement and February 6, 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.

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