Now we see why they were selling- to not only pay the 1st 10mill but also the 2nd

IMHO- now they are not under any pressure going forward

Pinetree Capital to redeem another $10-million of bonds
Ticker Symbol: C:PNP

Pinetree Capital to redeem another $10-million of bonds

Pinetree Capital Ltd (C:PNP)
Shares Issued 201,929,155
Last Close 4/29/2015 $0.095
Thursday April 30 2015 - News Release

Mr. Richard Patricio reports

PINETREE CAPITAL ANNOUNCES FURTHER $10 MILLION PARTIAL REDEMPTION OF CONVERTIBLE DEBENTURES, REPRESENTING $20 MILLION TOTAL REDEMPTION TO DATE IN 2015

Pinetree Capital Ltd. is again exercising its right to partially redeem the company's 10.0 per cent convertible secured debentures due May 31, 2016, in accordance with the terms of the indenture governing the debentures. On June 5, 2015, Pinetree will redeem $10-million of the $44,822,000 aggregate principal amount of debentures currently outstanding (after giving effect to the previously announced redemption of $10-million principal amount of debentures completed today). 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 $1,001.3699 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. Together with the $10-million principal amount of the debentures which the company redeemed today, the June redemption represents a significant milestone for Pinetree and satisfies its debt reduction commitment to the holders of the debentures contained in the parties' forbearance agreement of February, 2015, which requires that the principal amount outstanding of the debentures be reduced by $20-million no later than July 31, 2015.