Is stuff getting better for Pinetree? All they need now is for POET to move up significantly on news soon.

Pinetree Capital Announces $10 Million Partial Redemption of Convertible Debentures Due May 31, 2016

2015-03-26T20:25:40+00:00

TORONTO, CANADA--(Marketwired - March 26, 2015) -Pinetree Capital Ltd. (TSX:PNP) (TSX:PNP.DB) announces that it is 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 trust indenture governing the Debentures. On April 30, 2015 (the "Redemption Date"), Pinetree will redeem $10 million of the $54.822 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 $1,041.37 for each $1,000 principal amount of Debentures redeemed (less any applicable taxes required to be withheld).

Pinetree intends to use available cash on hand to pay the aggregate redemption amount of the Debentures.