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| Home : Pinetree Capital Ltd. Provides Update on Convertible Debentures |
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Jan 27
2015 |
Pinetree Capital Ltd. Provides Update on Convertible Debentures |
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TORONTO, CANADA--(Marketwired - Jan. 26, 2015) - Pinetree Capital Ltd. (TSX:PNP)(TSX:PNP.DB) announces that it has reached an agreement with certain holders (the "Supporting Debentureholders") of its 10% convertible unsecured subordinated debentures due May 31, 2016 (the "Debentures") in respect of the company's existing default of the debt covenant contained in the debenture indenture governing the Debentures (the "Indenture"), which prohibits Pinetree's debt-to-assets ratio from exceeding 33% as at the end of each month (the "Covenant"). As of January 23, 2015, the current default of the Covenant became an "Event of Default" under the Indenture when the default was neither cured nor waived by that date. |
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| Source:http://www.marketwired.com/mw/release.do?id=1986016&sourceType=3 |
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