TORONTO, CANADA--(Marketwired - Feb. 11, 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 further extend the deadline for the completion of a forbearance agreement and related matters set out in their previously-announced term sheet, from February 6, 2015 to February 13, 2015. Additionally, until the earlier of the execution of the forbearance agreement and February 13, 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.